Sathosa mithuru in sinhala font
Johnston Fernando was arrested on in relation to the non-payment for goods worth more than 5 million rupees but was released on bail amounting to Rs. However it has also been widely criticised in recent years for continuous loss making and defaulting on payments to suppliers.
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Sathosa has also guaranteed to sell essential items at concessionary prices during tough times including the coronavirus pandemic in the country. As of 2019, the retail chain expanded its branch of network beyond 400. Nushad Perera was appointed as the chairman of Lanka Sathosa in January 2020. The main function of Sathosa is to set prices of many essential items in the domestic retail market.
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Sathosa was incorporated as a state-owned enterprise under Companies Act no 7 of 2007 and it is regulated by the Ministry of Industry and Commerce. It is considered to be the largest state-owned retail chain in the country and was established in 2005. Lanka Sathosa also known as Sathosa is a wholesale and retail chain located in Sri Lanka.