Lotte Mart intends to re sell more than 50 shops to withdraw from China in full

category:Hot
 Lotte Mart intends to re sell more than 50 shops to withdraw from China in full


Lotte Matt Overseas network May 11, according to South Korea United News Agency reported, South Koreas music group 11, said that day shopping will be held on the board, the sale of Shanghai, Jiangsu and other more than 50 stores in East China, the market is expected to be 280 billion to 290 billion won (about 1 billion 670 million to 1 billion 720 million yuan) for sale to the profit Group group. The report said that in the last month, Lotte Matt had sold its 21 stores in Beijing with a $248 billion 500 million won (about 1 billion 480 million yuan) to the geumen group. With the sale of shops in East China, Lotte Mart will only have 14 shops in central and Northeast China. It is reported that the Korean enterprise, which entered the Chinese market in 2007 and has been operating in China for 11 years, is about to withdraw from China. The Saad base converted from Lotte Golf Course It is understood that Lotte has been expanding in China since 2008. However, last February, the Group signed a land exchange agreement with the South Korean government to grant the groups golf course land for the United States to deploy the sad anti missile system. Its fate began to reverse. Yonhap said Lottes land exchange caused strong dissatisfaction in China and its business in China suffered heavy losses. 87 of the 99 shops closed, and sales of surplus stores decreased by more than 80%. In September last year, Lotte decided to sell Lotte Marts business in China, but progress was slow. According to reports, the sales of Lotte Mart due to the Saad storm were estimated to be about 7 billion 100 million yuan. Lotte Mart sells 21 stores in Beijing with a loss of about 7000000000. Overseas network April 26, according to Yonhap reported, music shopping 26, said to the object group to 248 billion 500 million won the price of 248 billion 500 million won Mart in Beijings 21 shops. Lotte said it was developing quickly for the sale negotiations in other parts of China.