Giant supermarket in Toa Payoh Block 181 will be permanently closed
After being around for years, the Giant supermarket in Toa Payoh Central has just nine days left of operations.
The mammoth outlet next to the library will close for good on 15 Sept, according to a notice seen by MS News.
Giant Toa Payoh announces closure ‘with much regret’
The notice, placed on the entrance of Giant Block 188 Lorong 4 Toa Payoh, announced the permanent closure “with much regret”.
It will officially end operations at the end of the day on 15 Sept, it said, thanking patrons for their support and adding:
It has been our privilege to serve at Toa Payoh over the years.
The nearest stores to this one are located in Block 260 Kim Keat Avenue — the only other one in Toa Payoh — and in Ang Mo Kio.
Business poor due to FairPrice outlets nearby
According to Giant’s website, the chain has 45 stores across Singapore.
However, before the start of this year the number was 53.
It has since shut down eight stores, according to The Straits Times (ST), including three supermarkets in Bishan, Ang Mo Kio and Bukit Panjang.
Giant Toa Payoh will be its ninth store to close in 2024.
Staff at Giant Toa Payoh told ST that business there had been poor over the last year, mostly due to competition from two FairPrice outlets nearby.
The paper also noticed several empty refrigerator and freezer shelves.
Giant at Suntec City has downsized
Over at Suntec City, the Giant supermarket in the basement level, lining the Fountain Of Wealth, appears to have downsized.
It now takes up just about half the space that it used to occupy, with the rest of the unit to be taken up by an upcoming Cold Storage.
Source: Google Maps
Cold Storage is owned by DFI Retail Group, which is also the parent company of Giant.
Staff at Giant Toa Payoh were reportedly told that they would be transferred to Cold Storage after its closure.
Premises put up for sale at S$16.5M guide price
In April, The Business Times (BT) reported that DFI was selling the premises of Giant Toa Payoh, which has a total area of 9,731 square feet.
The guide price for the transaction was S$16.5 million.
DFI had told BT that the sale would allow the company to “strategically reallocate” its resources so it could “better focus on operating other stores”.
In a statement on its half-year results for the first six months of 2024Â released on 1 Aug, DFI said its Singapore sales performance “continued to be affected by challenging consumer sentiment”.
However, “a better product margin mix and strong cost control significantly improved profitability”, it added.
Also read: Giant To Absorb 1% GST Hike For 700 Essential Products In First Half Of 2024
Giant To Absorb 1% GST Hike For 700 Essential Products In First Half Of 2024
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