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Tag: close down

Retail Asia31/01/2019
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Food

Singapore Plum stops delivering food

1min0
Hong Kong food-delivery startup Plum has closed its Singapore operations. An email delivered to Plum’s customers read: “It is with great sorrow to announce that we are ceasing our operations in Singapore from 21st January. Plum would like to thank you for your past support and going on this wonderful journey with us. We would […]
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Retail Asia07/01/2019
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General

Time is running out for Sears offer

2min0
Sears chairman Eddie Lampert’s last minute plans to save the bankrupt retail chain are set to be terminated on Friday afternoon, New York time, should they be determined to not be a “qualifying bid”. The first plan, a US$4.4 billion offer to purchase Sears, would provide ongoing positions for 50,000 employees and is the “best […]
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Retail Asia03/01/2019
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Real Estate

Sears US to close further 80 stores by March

3min0
Bankrupt US retailer Sears has informed 80 further stores of impending closure, in addition to the 40 store closures already announced. The second batch of closures is expected to be finalised by late March 2019, with liquidation sales expected to begin in early January 2019. The closures have been made in an effort to accelerate […]
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Retail Asia29/11/2018
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Fashion

H&M announces closure of Cheap Monday

2min0
H&M is to close its Cheap Monday brand business to refocus on “core activities”. “Cheap Monday has a traditional wholesale business model, which is a model that has faced major challenges due to the shift in the industry,” H&M said in a statement announcing the closure. “There has been a negative trend in the Cheap […]
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Retail Asia13/06/2016
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Fashion

Ralph Lauren closing stores as sales see slump

3min
Ralph Lauren is closing stores, cutting jobs and focusing more on its most popular brands to try to reverse its declining fortunes. Shares of the fashion company tumbled 4 percent Tuesday. The changes are the first big moves from CEO Stefan Larsson, who replaced company founder Ralph Lauren in the role late last year. Lauren […]
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Retail Asia12/04/2016
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Fashion

New Look and Celio to exit Singapore market

6min
Two fashion brands will bow out of the challenging retail scene here before the year is out. Eight stores in various malls showcasing the British brand New Look and French menswear chain Celio will close in the second half of the year, said distributor Jay Gee Melwani Group. “The sales are not there and the […]
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Retail Asia12/04/2016
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Fashion

Asos gives up on the Chinese market

2min
Asos has made the decision to remove its Chinese operations as the retailer found expansion of the business too costly. Instead of holding stock in China, Asos will serve it Chinese customers through its global platform and ship clothes from Europe. Asos will also be discontinuing its Mandarin website. Chief Executive Nick Beighton noted that […]
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Retail Asia15/03/2016
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Fashion

Hugo Boss to review store growth close some China

5min
German fashion house Hugo Boss is closing outlets in China and will review its global store network as it tries to revive its fortunes following the departure of its chief executive last month after a profit warning. Like other upmarket fashion retailers, Hugo Boss has been hit by a slowdown in luxury spending, particularly in […]
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Retail Asia14/12/2015
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E-Tailing

Foodpanda Vietnam to shut down

3min
Foodpanda – relentlessly marching its way across Southeast Asia, gobbling up rival food delivery businesses and creating monopolies – has shocked the online community by closing its Vietnam business. According to a report in online business news website Deal Street Asia the Rocket-Internet backed company has told its Vietnamese partners the operation will close on […]
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Retail Asia17/11/2015
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Fashion

Fashion chain M)phosis shutters stores

2min
Singapore-founded fashion retailer M)phosis is reportedly closing all its Southeast Asian stores due to financial challenges. The Straits Times has reported the chain is in the process of closing remaining stores in Vietnam, Malaysia, the Philippines and Indonesia – more than 10 in all. Its last Singapore store, in VivoCity, ceased trading at the end […]
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Retail Asia04/09/2015
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Fashion

Coach to exit landmark location in Hong Kong

3min
Leather goods maker Coach Inc. is shutting one of its three flagship locations in Hong Kong, the latest retailer to be hit by the drop in the number of mainland Chinese visitors to the city amid a slowing economy and weaker yuan. The store towers above Queen’s Road Central in the central business district of […]
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