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China - "Another mall in Guangzhou will be closed by the end of the year!"

sharon sanders

Editor-in-Chief & President
Another mall in Guangzhou will be closed by the end of the year!


2021-12-25 23:28:35

Comprehensive Guangzhou Daily, Southern Metropolis Daily, netizens' comments
Another 15-year department store
The store will be closed on December 31
Recently, Guangzhou Modern Department Store Haigou Store issued a closing announcement, announcing that it will be closed on December 31, 2021.


Source: Guangzhou Daily.
According to the announcement, it has been in business for 15 years since it opened on August 18, 2006. It has been in the same boat for 15 years. Thank you for your long-term patronage, support and love.
Now due to business adjustments, we regret to inform you that since the closure of the store on December 31, 2021, the department store to which our store belongs will be closed. Until then, our store as a whole will still try our best to provide good services. Regards Please feel free to shop.


Source: Southern Metropolis Daily.
According to the Southern Metropolis report, the modern department store Haigou store is divided into a basement level and three floors above ground. The first floor is mainly for clothing, jewelry, and shoes; the second floor is mainly for clothing and home textiles; the third floor is mainly for education and training institutions.
At present, the "dismantling and clearing" in department stores, "one discount" and "as low as 19 yuan" have spread throughout the mall. Merchants have launched discounts for clearing goods one after another, and each piece of clothing is closely arranged on the hanger with a discount label.

Source: Guangzhou Daily, Southern Metropolis Daily.
Rent is the direct cause
Only two stores left in Guangzhou
Statistics show that Modern Department Store is a giant private department store company in Guangzhou. After first setting up department store business in Guangzhou in 2002, its department store business moved from Guangzhou to a broader inland city, with department store operations in many places.
For a long time, Guangzhou Modern Department Store has not owned its own properties, and all stores are operated by lease. It is under this model that modern department stores face high rents every year. Previously, Modern Department Store had closed down five stores, Xintang Store, Xicheng Metropolitan Store, Beijing Road Store, Huadu Store, and Huangpu Store due to operating and rent pressures.
The modern department store Haigou store has to pay nearly one million yuan in rent to the site owner every month. During the epidemic, the Haigou store introduced two rent reductions and exemptions to the tenants to reduce the pressure on the business, but its own actions In recent years, the property lessee has not been able to enjoy the rent reduction discount for property leasing. Currently, it is unable to afford the high rent, so it has decided to close the shop and exit.
It is reported that Modern Department Store currently has three stores in Guangzhou, Gangding Store, Haigou Store and Shengdi Store. After the Haigou store is closed, Modern Department Store will only have two stores left.


zhttps://www.163.com/dy/article/GS3NMSLH05445BQZ.html
 
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