CityShop closes its last two Shanghai outlets
CityShop said it's entering liquidation after nearly 30 years in the city.
The CityShop supermarket is closing its Shanghai outlets citing poor business conditions.
The company said it was entering liquidation after nearly 30 years in the city and closing its last two stores in Jing'an and Xuhui districts.
"In recent years we've been struggling and have depleted our measures to get back to normal business operation," it said.
It is paying employees' salaries until April 15, and human resources staff will be in contact over compensation issues, according to a notice released on Monday.
A closure notice at the Shanghai Centre CityShop on Nanjing Road W.
A CityShop closure notice was seen at the Shanghai Centre on downtown Nanjing Road W.
The Shanghai Centre management company has guided customers to nearby shopping destinations such as Olé, Freshmart and CitySuper.
CityShop, which sold part of its equity stake to local fresh fruit retailer FruitDay in 2017, has been under pressure from other hypermarket chains, membership exclusive stores and online fresh food delivery services in recent years.
The retailer was among the first to introduce imported food and target high-end customers, but has fallen behind in terms of merchandising, customer service and shopping environment.
At its peak, it was operating 13 stores in Shanghai and two in Beijing.
It is offering customer services through the "CityShopCityLife" WeChat account and customers can inquire about shopping coupons refunds. Business hours are from 9am to 5pm.
City Shop is closing down its last two stores in the city due to poor business.
