Zhongmin Baihui shutters Nanjing store

SINGAPORE (July 12): Zhongmin Baihui Retail Group said on Tuesday that it has decided to close its operations at its Nanjing Nanzhan store in Jiangsu province, China.

Zhongmin Baihui, which owns and operates more than 10 department stores in Fujian and Jiangsu in China, explained that the store has been unprofitable since its opening in 2012 due to the slower-than-expected development of its surrounding areas.

While the group has been able to reduce its losses at the store over time, it added that “its resources could be better deployed elsewhere”.

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