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Article: Daiei closures to hit local marts.
- Article from:
- Yomiuri Shimbun
- Article date:
- February 6, 2005
CopyrightCOPYRIGHT 2005 The Yomiuri Shimbun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb. 6--OSAKA -- Of the 53 Daiei Inc. outlets the retail giant and the Industrial Revitalization Corporation of Japan plan to close or sell, more than half have been operating for over 20 years.
Many of these outlets have faced severe competition from other major retailers, including Aeon Co. and Ito-Yokado Co.
The closure of these Daiei outlets is sure to have an impact on local economies, adversely affecting shopping malls that have relied on the outlets' ability to attract customers and cutting employment for part-time workers.
Because of the impact on local economies, the number of outlets to be closed or sold may change during the ...