Parkson closes one of eight department stores in Vietnam

January 05, 2015 | 11:07

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On January 2, department store Parkson Landmark 72 suddenly closed after three years of opening.

All shops inside the department store finished removing their stocks on January 3 according to the request of Parkson Hanoi Co. Ltd., the firm that manages Parkson Landmark 72.

According to a notice allegedly by Parkson Hanoi Co. Ltd posted on local news sites, the reason for the closure is the lacklustre business.

“Since the store opened in 2011, Parkson Landmark’s performance has not a day been registered with any sales that could achieve our expectation and we also understand that your counter has also been suffering with huge losses since then,” the notice said.

On January 4, there was a notice pasted on the door of the store saying that the store would only close till January 7 “for stock taking process.”

Parkson Landmark 72, opened in 2011 with the total investment of $10 million, is one of the two Parkson department stores in Hanoi and one of the eight in Vietnam. Located in the Keangnam Landmark Tower 72, the department store has five floors with the total area of 35,600 square metres. It is managed by Parkson Hanoi Co., Ltd., a subsidiary of Parkson, the retail arm of Malaysian conglomerate Lion Group.

By By Khanh Tran

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