Blog: Parkson Holdings - Temporary closure of loss-making store in Hanoi BUY

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2 comment(s). Last comment by haikeyila 2015-01-08 10:23

ks55

4,221 posts

Posted by ks55 > 2015-01-08 09:57 | Report Abuse

Closure of loss-making store in Hanoi only after 3 years of operation. What does it reflect? Calibre of PHB management substandard? Directors not competent?

What we know is Departmental Store normally sign long term irrevocable lease with landlord. How many years lease was signed? What will the compensation like? What about renovation and one off startup cost? What about staff retrenchment cost?

Is PHB plan for another store in Hanoi? Is PHB plan to exit Hanoi?

How much is the potential write off (Loss) for all the above mentioned cost, excluding preliminary set up cost involving meetings, site visits etc... etc...

As CEO, WC should hold responsible for this failure. If you think he can be forgiven because of his advanced age (72 this year), why not vote him out? If not possible, then cast your votes with your legs. AEON always welcome you!!!

haikeyila

1,068 posts

Posted by haikeyila > 2015-01-08 10:23 | Report Abuse

yea, strange decision and not clear what 'temporary' means. bad for the company's reputation. then again this is one of the perils of running businesses in countries like vietnam.

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