Beleaguered Japanese supermarket chain Mycal has revealed that it will close 19 of its string of unprofitable stores this spring.
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The move forms part of the reconstruction process for Mycal, which has been declared bankrupt, as it attempts to return to profitability. Jusco supermarket chain operator AEON Co. has sponsored the company’s rehabilitation procedures.
The 19 outlets in question will be among the company’s 139 Saty supermarkets and Vivre fashion stores. They form part of the 50 loss-making outlets Mycal announced that it will close within three years.
