Robinsons announced it has begun the liquidation process of its two stores in Malaysia, located at The Gardens Mall and Shoppes at Four Seasons Place.
Photo via Robinsons
Subject to confirmation, the liquidators are hoping the stores will remain open for the coming weeks to facilitate final sales for customers before they are shuttered.
This comes as the demand for department store concepts has weakened significantly with reports showing a drop in retail sales, recording a negative growth rate of 8.5% in Malaysia for Q12020, as compared to the same period a year ago.
The retail industry in Malaysia recorded the worst growth rate in 33 years with the outlook remaining negative for the remaining months of the year as consumers are expected to tighten their spending, while more department store closures have been announced in the past months with more expected as department stores in particular continue to struggle.
Danny Lim, Senior General Manager Robinsons, comments: “We regret this outcome today. Despite recent challenges in the industry, the Robinsons team continued to pursue the success of the brand. However, the changing consumer landscape makes it difficult for us to succeed over the long-term and the COVID-19 pandemic has further exacerbated our challenges.”
He continued: “We have enjoyed success over the years, and it has been an honour for Robinsons to serve the Malaysian market. I am grateful for the dedication of our team, and for the support shown by our customers over the years.”
In light of the recent CMCO, remember to always sanitize, wear a mask and practice social distancing. We will get through this together and please stay safe! #RobinsonsMY #RememberTo #CMCO #COVID19
Posted by Robinsons Malaysia on Sunday, October 18, 2020
Robinsons’ management has ensured that employees are supported with a payment in keeping with liquidation regulations, and these payments will be made to them in line with the next payment cycle; well in advance of the usual liquidation process timing which would usually take months.
Robinsons stores in Singapore, located at The Heeren and Raffles City Shopping Centre will also undergo a similar liquidation process, too.
Tough times for everyone, huh?
By: Aishah Akashah Ahadiat
