SINGAPORE – Global Retail giant Carrefour plans to pull out of Singapore. One of the biggest hypermarket in the world announced it would close two stores located at Suntec City and Plaza Singapura, before the end of the year.
The decision was made due to the expansion of the company’s growth prospects and does not allow reaching a leading position.
As is known, in Singapore, the main competitors are large supermarket Carrefour and NTUC FairPrice supermarket Dairy Farm Group. The impact of the closure will affect more than 380 employees of Carrefour.
Carrefour spokesman who was not named, said that they intend to work with other retailers to find jobs for its staff.
For your information, Carrefour currently operates in five main store formats, namely hypermarkets, supermarkets, discount, convenience, and online. Carrefour group currently has more than 15 thousand stores, either company-operated or franchises in more than 20 countries.
Carrefour Singapore has existed since 1963. Carrefour was the first hypermarket store format introduced in 1995 in this white lion country. Carrefour Singapore also has an online store.