On June 27th, Chengdu Isetan Company, a Communist China based associate of mainboard listed Isetan, announced the closure of 2 stores by the end of this year in a bourse filing.
Isetan is a leading Japanese retail department store based in Tokyo and has branches throughout Japan, Southeast Asia, Taiwan, and China. The company currently owns 2 branch stores in Chengdu and the earlier one has been operating for 15 years. It is learnt in the released documents that reasons for the closure of Chengdu Isetan include the stringent lockdown measures in the pandemic, inability to renew the lease of the main store and the fierce competition in Communist China.
After the stores cease operations, Chengdu Isetan will commence proceedings on its dissolution and voluntary liquidation starting in 2023. The company also said the exact financial impact of this event remained unknown at this point of time.
Aussie Brief News
Go to First Page and Get the Latest News.
You may also like
-
TikTok uses “Project Texas” to fool Americans twice
-
Select Committee urged to terminate the US-China Tech agreement. The CCP military units are surrounding the U.S.
-
America Borrowed over 800 Billion from CCP and Sent Billions Back to China
-
A BlackRock Recruiter Admitted Senators are Cheap. NFSC revealed the Main Purpose of AIIB and BRICS. II
-
A BlackRock Recruiter Admitted Senators are Cheap. NFSC revealed the Main Purpose of AIIB and BRICS. I