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The owner of KFC and Pizza Hut said sales plunged by 20% in the first two weeks of March as a surge of new Covid cases spread across China. Yum China said “the situation has rapidly deteriorated” as regional lockdowns have been put in place to stem the…
Japanese apparel firm World Co is shuttering 358 outlets nationwide by March next year. The move is in response to the impact of the Covid-19 outbreak and will involve jettisoning five clothing brands owned by the parents firm – including unprofitable brands…
Muji Japan has launched an online store on Amazon, strengthening its e-commerce presence as the Covid-19 crisis closes stores. According to the Nikkei Asian Review, the new Muji Japan online store will feature 250 items, mostly beauty products, storage…
Apple has closed all its stores outside of Greater China in response to the coronavirus outbreak. According to a company statement, all of Apple’s retail stores outside China will be closed until March 27 however, its online store and “Apple store” app remain…
Hong Kong-headquartered apparel chain Bossini is to close down its Taiwan business, expecting to close all 51 stores by July 31. Chairman Bess Tsin said Bossini Taiwan will start discussions with landlords over terms for exiting leases early and all employees…
Struggling fashion & homewares chain Laura Ashley is seeking to borrow additional funding to stay afloat in the midst of a dispute with its lender. The firm’s Malaysian owner MUI Group is renegotiating its access to a £20 million (US$26 million) fund put up…
Thousands of stores will close and 5600 jobs will be lost as Hong Kong retailers try to recover from a “severe” sales decline brought on by social unrest and declining mainland visitor numbers, according to a survey by the Hong Kong Retail Management…
Miniso Hong Kong has shuttered all of its 50 stores since November 14 citing ongoing protest action – and reportedly won’t be paying staff for the week. A leaked internal memo was sent to staff advising them of a seven-day closure and giving them just one…
“Dozens” of smaller Hong Kong retailers may be forced to close their doors as ongoing protests – now into their 15th week – impact trade. The Hong Kong Retail Management Association has repeatedly been warning of critical impact on the retail sector as store…
Fashion retailer Zara has reassured customers that its decision to close its IFC mall store in Hong Kong on Monday was not related to protests currently taking place in the city. The statement emerged after social media users in Mainland China speculated that…
Malaysian department store operator Parkson has closed its store in Puchong just 18 months after it opened. The closure follows its exit from Suria KLCC in downtown Kuala Lumpur after 20 years. A Parkson spokesperson said the Puchong store had not met sales…
Gucci’s Harbour City store has been closed for disinfecting after three staff members fell ill with measles within the last week. A Harbour City spokeswoman told that store staff advised mall management about the infections last evening and the Canton Road…
Marks & Spencer is reportedly due to announce the closure of some of its Chinese shops when it releases its trading update next week. There is speculation that chief executive Steve Rowe will reveal his plans to help bring the department store chain back into…
Ensogo Asia has closed down all of its online stores as the online retailer appears on the brink of collapse. Following the resignation of its co-founder Kris Marszalek, the Singapore-based tech company said it will cut its financial support to its sales and…
Parkway Parade shopping mall, one of the most popular in the east, will remain closed until further notice, after a fire broke out in a store late on last Sunday night. While the retail mall remains closed as the management continues checks and rectification…
Japanese e-commerce platform Rakuten has announced plans to close a number of global operations as part of a new strategic focus. As of March 2016, the company will shutter its marketplaces in Singapore, Malaysia and Indonesia. It is also looking to sell off…
