Struggling Japanese supermarket operator Daiei has reportedly opted to close five underperforming stores after it failed to find buyers for them.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The five unprofitable stores, two of which are in Osaka and one each in Nara, Hyogo and Nagasaki prefectures, are situated in outdated buildings, reported the Nihon Keizai Shimbun, citing company sources.
Daiei, one of Japan’s largest retailers, is undergoing a massive restructuring programme under the guidance of the Industrial Revitalisation Corp of Japan.
