Carrefour to close outlets in Singapore by year end

[buttercarp]

http://www.asiaone.com/News/Latest%2BNews/SoShiok/Story/A1Story20120828-368093.html

AsiaOne
Tuesday, Aug 28, 2012
Hypermarket chain Carrefour announced on Tuesday that it will be shutting all of its outlets here in Singapore before the end of the year.

The global retailer has two outlets here: Plaza Singapura and Suntec City Mall.

A spokesman said in a statement that the decision was made because expansion and growth prospects of the company do not allow it to reach a leadership position in the medium and long term.


The French company opened its first store in Singapore in 1997. In 2010, it announced that it would leave Malaysian, Singaporean and Thai markets.

It sold its operations in Thailand, where it had 42 stores, including 34 hpyermarkets, to Thai chain Big C for $1.36 billion.

Carrefour's main competitors in Singapore are supermarket chain NTUC FairPrice and the Dairy Farm Group of supermarkets, which includes Cold Storage.

The closure will affect more than 380 employees, reported The Straits Times. The spokesman said that it intends to work with other retailers to find jobs for its staff.

[email protected]

[yowetan]

http://www.asiaone.com/News/Latest%2BNews/SoShiok/Story/A1Story20120828-368093.html

AsiaOne
Tuesday, Aug 28, 2012
Hypermarket chain Carrefour announced on Tuesday that it will be shutting all of its outlets here in Singapore before the end of the year.

The global retailer has two outlets here: Plaza Singapura and Suntec City Mall.

A spokesman said in a statement that the decision was made because expansion and growth prospects of the company do not allow it to reach a leadership position in the medium and long term.


The French company opened its first store in Singapore in 1997. In 2010, it announced that it would leave Malaysian, Singaporean and Thai markets.

It sold its operations in Thailand, where it had 42 stores, including 34 hpyermarkets, to Thai chain Big C for $1.36 billion.

Carrefour's main competitors in Singapore are supermarket chain NTUC FairPrice and the Dairy Farm Group of supermarkets, which includes Cold Storage.

The closure will affect more than 380 employees, reported The Straits Times. The spokesman said that it intends to work with other retailers to find jobs for its staff.

[email protected]

My POSBank credit card discount will no longer be useful then.

[Vincegoh]

aiyoh, i just bought a swing from them... supposed to deliver end oct/nov..

shldnt have bought so early.. scarli got closing down firesale. :tongue3:


http://www.asiaone.com/News/Latest%2BNews/SoShiok/Story/A1Story20120828-368093.html

AsiaOne
Tuesday, Aug 28, 2012
Hypermarket chain Carrefour announced on Tuesday that it will be shutting all of its outlets here in Singapore before the end of the year.

The global retailer has two outlets here: Plaza Singapura and Suntec City Mall.

A spokesman said in a statement that the decision was made because expansion and growth prospects of the company do not allow it to reach a leadership position in the medium and long term.


The French company opened its first store in Singapore in 1997. In 2010, it announced that it would leave Malaysian, Singaporean and Thai markets.

It sold its operations in Thailand, where it had 42 stores, including 34 hpyermarkets, to Thai chain Big C for $1.36 billion.

Carrefour's main competitors in Singapore are supermarket chain NTUC FairPrice and the Dairy Farm Group of supermarkets, which includes Cold Storage.

The closure will affect more than 380 employees, reported The Straits Times. The spokesman said that it intends to work with other retailers to find jobs for its staff.

[email protected]

[carbuncle]

Poor staff. :|

[Vincegoh]

Poor staff. :|

think shld be relatively manageable as they only have 2 outlets and just 380 staff. most of the junior and temp staff should be able to find replacement jobs as some of the other supermarts are expanding (and will most likely replace the "void" left by carrefour). for mgmt, i think shldnt be too much of a worry as their golden handshake might be pretty good? :confused:

[howgozit]

Most probably killed by the rentals in Singapore.....

And with them selling all the low-end, low margin stuff, I have always wondered how they managed to stay afloat for so long

[radha08]

sign of EURO crisis..:scared-1:

[azeoprop]

Actually their business in china seems very good. :beats-me-man:

[radha08]

Actually their business in china seems very good. :beats-me-man:

that cos china got no..giant...:D

[zeamybro]

Ever since the introduction of the evening ERPs for CBD .. the crowd at suntec has been getting lesser and lesser... Suntec City used to be very crowded some 10 yrs back.

[tkc2263]

Understand Giant taking over premises...not sure whether the whole double storey floor space.

[carbuncle]

only got giant pandas.

[howgozit]

Too many retail in Singapore.... shoppers are a fickle lot with no loyalty at all... Carrefour does not really have any unique products too

Suntec has lost a bit of its mojo, the foodcourt has also gone to the dogs.... In addition, hip and cool continues to evolve and this is normal. Back in the days there were Far East Kids and Centrepoint Kids, but ask a teenager nowadays and they will say "Far East... what?"



Ever since the introduction of the evening ERPs for CBD .. the crowd at suntec has been getting lesser and lesser... Suntec City used to be very crowded some 10 yrs back.

[kane]

carrefour has been really quite in the last couple of years.

[Komo]

I only visit them for small or outdoor furniture items... funny right?:D

[Wild Falcon]

With Cold Storage, Giant and NTUC all over Singapore, locals no longer go all the way to the city to buy groceries or household items liao. A lot of retail in the city are not doing too well. Nowadays the real "cool" places are those cafes and restaurants far from the madding crowd and only known to the "in" crowd.

[carbuncle]

Agree. should start a thread on these rare finds to create mindshare... I start with... Duxton Hill...

[howgozit]

Agree. should start a thread on these rare finds to create mindshare... I start with... Duxton Hill...

For coffee lovers... a cafe with a difference at an interesting location... try Chye Seng Huat Hardware.

[carbuncle]

uber cool indeed. too bad I not into coffee else would definitely check it out.

[howgozit]

uber cool indeed. too bad I not into coffee else would definitely check it out.

they have other stuff too...