Disappointing sales have driven Dutch cash & carry group Makro to close all its stores in Taiwan.

The company operates six stores, which failed to open on Wednesday. Shoppers were informed by a note on the doors of the Taipei store that a clearance sale will be held next week.

The news has come as a blow to the company’s 730 employees, who will be laid off in the next few weeks. Two other stores in southern Taiwan were closed last month as the group struggled to invigorate sluggish sales throughout the country.

Makro Asia operates stores in China, Indonesia, Malaysia, the Philippines, Taiwan and Thailand. Sales are reported to have been slow in Malaysia as well as Taiwan.

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By GlobalData