3 Confirmed Giant Hypermarket Closures By 2019
Remember the rumours about the closure of 7 Giant hypermarkets around Singapore?
Although Giant denied those rumours, TODAYonline reported on Friday (28 Sep) that Giant will be closing its VivoCity outlet early next year.
This announcement comes at the heels of the closure of two stores in Bukit Panjang and Jalan Tenteram in Whampoa Estate.
Giant outlets that have closed
Bukit Panjang – Junction 10 Shopping Centre
Whampoa Estate – Jalan Tenteram
Vivocity outlet to close, 3 others up for review
While it’s confirmed that the Vivocity outlet will be closing soon, Giant will be reviewing if business is still viable in 3 other outlets.
The store locations up for review are:
- The Grandstand, 200 Turf Club Road, Singapore 287994.
- Blk 512 Bishan Street 13, #01-524, Singapore 570512.
- Blk 118 Aljunied Avenue 2, #01-100, Singapore 380118.
Closing because of lease expiry & competition
A spokesperson from Giant stated that their lease at VivoCity will not be renewed when it expires in the first quarter of 2019.
Parent company Dairy Farm will redeploy affected staff to other Giant stores or its subsidiaries like Cold Storage or Guardian.
Rising rental rates upon every lease renewal could be one of the reasons behind the closure of Giant’s stores.
Online grocery shopping provided by FairPrice and platforms like RedMart also pose a threat to their business.
Apart from lease renewals and store performance, perhaps Giant could consider having a greater online presence to match its market rivals.
Featured image from Google Maps.
