September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation. Multinational company Nielsen Holdings, which has 100 percent stake on Nielsen Nepal, had decided to close its office in Nepal on June 30.

The company is likely to complete the liquidation process within September 30. A source at the company informed New Business Age that they have completed all internal the paper works for liquidation and is only awaiting the formal process to complete within this month. The liquidation process has been pushed back by the prohibitory order issued by the District Administration Office of the Kathmandu Valley, the source further said.

Nielsen Nepal had been involved in market research in Nepal since 1993. However, the company was unable to carry its business as expected during recent months. The coronavirus pandemic further aggravated the problems of the company after which it decided to go for liquidation.

Besides Nepal, Nielsen Holdings has decided to close its offices in four other countries as well.

New York-based Nielsen Holdings is an internationally renowned data analysis company.

Nielsen Nepal had been conducting market research, social research and retail measurement services. However, due to bleak prospects in these areas, the company decided to close its office in Nepal, it has been learnt.

The company found that its expenses in Nepal were more than the income it has been making, the source said. Nielsen Holdings is reportedly investing in only those countries where there is high return.

Other multinational companies like Surya Nepal, Unilever Nepal among others used to hire Nielsen Nepal for market research.

With the decision to close the company in Nepal, more than 60 full-time workers and over 200 independent researchers associated with the company have lost their jobs.

Four of the staffers of the company have set up a new company named Mark Data Nepal, which is similar in nature to Nielsen Nepal.