Five Giant Outlets To Shut Down By 5 November
It has been reported that five Giant Hypermarket outlets will cease operations by 5 November
According to media reports, the affected outlets are:
• Giant Sri Manjung (Perak)
• Giant Sungai Petani (Kedah)
• Giant Shah Alam City Centre (Selangor)
• Giant Selayang Lama (Selangor)
• Giant Sibu (Sarawak)
The closures were confirmed by GCH Retail (Malaysia) Sdn Bhd yesterday, 26 October. The group is the operator and owner of Giant. GCH said that these outlets have reached the end of its lease term at these premises.
"The group said it has reviewed its operations and the decision was made to improve efficiencies and productivity," The Sun Daily reported.
It was also reported that the Giant outlet in Bercham, Perak, will be shifting to a new premises
GCH Retail Sdn Bhd, who also owns Cold Storage, Mercato, and Jasons Food Hall stores, revealed that the new facility is much more spacious - double the size of the current store. The group added that the outlet will provide more offerings and range of products for its customers.
"In addition, by the end of this year, GCH Retail will be relaunching a new exciting concept store by Cold Storage in KLCC (Kuala Lumpur City Centre).
"The group will continue to deploy its resources to raise the bar to create positive retail experiences for our customers. We look forward to serve our customers in all our stores located across the country," the group added.
News of the closures comes days after netizens speculated that the Sri Manjung outlet might be shutting down
Several posts on social media have claimed that the Giant store in Sri Manjung, Perak, has underperformed its peers in the challenging market environment, and suffered losses for four consecutive years.
There were also claims that it was due to these losses that Giant decided not to renew lease, whereby the monthly rent is at RM150,000.