business

Aeon to close 40 supermarkets

8 Comments

Retail giant Aeon Co plans to close some 40 supermarkets by the end of its next business year, company officials said Tuesday. The move is part of Aeon's plans to revamp its operations and review its store management policy, the officials said.

The officials did not specify which stores will be closed, but said that Aeon has already started negotiations with local communities concerned.

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8 Comments
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Does this mean that small specialist shops are becoming popular again? What does negotiating with local communities really mean? Will AEON contribute to their rebuilding?

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A lot of these stores were opened with the specific intent of putting the competition out of business. They were operated at a loss in order to ensure that there was no way to fairly compete. Once Aeon puts 'the other guys' out of business they shut their doors too? Shameful. Unfortunately, this is the business model of more than one company in Japan. Not really sustainable in the long term.

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thundercat: yes, didn't pay-off instead resulted in lay-off

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In other news on this site, bankruptcies are up for the first time in six years. In my local community there area number of shopping malls but in between the malls are many, many boarded up small shops. Some of those shopping malls are run by Aeon. Will this mean those small shops will be rented out again or are they gone for good?

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Me little shop lost it's Jusco 2 years ago... somewhat troublesome to find the good cat litter now...

Too much, too big, too boring... welcome to Aeon...

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I just hope the Aeon in my area does not close, I dont think I could handle starvation!!

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Aeon supermarkets reduce outlets, to cut costs. There is need for Aeon to raise up its finances with ties with other richer global companies world wide.

Business and finance today, know no national borders, in a borderless world of trade/imports/exports.

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I remember when Niigata's Daiei closed a couple of years ago - that was quite a shock and meant that there were no decent supermarkets in the Bandai area of town. The closure of these branches of Aeon could prove similarly inconvenient for people who perhaps don't have their own transport and will have to travel further afield on public transport (if it exists in their area).

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