A devastating fire that broke out on the night of Sunday, February 9, at the Madina & Abbas Complex has left traders grappling with significant losses and concerns about the future of their businesses. The fire, which severely damaged the complex located in the Devan Devdi market, has reduced several crores worth of property to ashes, impacting hundreds of traders who had stocked up merchandise in anticipation of the Ramzan month.
The Madina & Abbas Complex, a bustling hub for wholesale and retail shops dealing in textiles, ready-made garments, hosiery, and handlooms, is a key marketplace for traders from Telangana, Karnataka, and Maharashtra. These traders rely on the complex to purchase their goods for retail businesses. The fire has left about 35 shops either completely or partially gutted, with many of them located on the third floor, which houses godowns and additional retail/wholesale outlets.
Shahed Khan, a local salesman, described the extent of the damage, revealing that new stocks had started arriving just a week before the fire. “It will take weeks, if not months, for the business to resume,” Khan said, highlighting the uncertainty that lies ahead for traders whose livelihoods depend on the complex.
Sajid Khan, another salesman, emphasized the scale of the market, which houses 400 malgis and operates as a five-story building with two basement floors and three floors above ground. The complex serves as a busy market, attracting thousands of visitors during weekdays. The total business turnover runs into the crores, and approximately 2000 people work in the complex.
With the shops heavily damaged, the immediate concern for traders is the loss of inventory, which includes expensive textiles and garments. Many salesmen have expressed deep concern over how long it will take to clean up the debris, refurbish the shops, and resume regular operations. “The shop is completely gutted. To clear the burned materials such as clothes, wooden counters, and other articles, it will easily take a week. Refurbishing the shop might take another two weeks,” said one of the affected salesmen.
On Monday, the commercial activity in the complex and adjacent buildings was halted due to ongoing firefighting operations. As a result, there was little to no movement in terms of business transactions. The traders, many of whom have invested large sums in their merchandise, are now left facing an uncertain future.
While the insurance process and potential government aid may provide some relief, the traders fear that the recovery period could stretch far beyond expectations. The delay in the restoration of business will not only impact the traders financially but will also affect their employees, who rely on the market for their daily wages.
The traders are calling on local authorities and government agencies to step in swiftly to assist in clearing the damages and facilitating a quicker restoration process. However, with the scale of the damage, many are unsure whether their businesses will be able to fully recover from the disaster.
As the Madina & Abbas Complex begins the slow process of rebuilding, traders and salesmen remain anxious, facing an uncertain future in the wake of one of the most devastating fires the market has seen in recent history.
(This story is sourced from a third-party syndicated feed. Raavi Media takes no responsibility or liability of any nature. Raavi Media management/ythisnews.com can alter or delete the content without notice for any reason.)
