Robinson Co (Malaya) Sdn Bhd is the latest retail company in Malaysia that will be shutting down its operations due to Covid-19 pressures.
It has been reported that the liquidation process has already begun for its stores located in The Gardens Mall and at Four Seasons Place, next to KLCC in Jalan Ampang.
According to The Sun Daily, the liquidators are hoping that the aforementioned outlets can remain open for a few more weeks in order to hold final sales before shutting down for good. The Global Ecommerce 2020 report show that the retail industry specifically has recorded “the worst growth rate in 33 years with the outlook remaining negative for the remaining months” in 2020.
“We regret this outcome today. Despite recent challenges in the industry, the Robinsons team continued to pursue the success of the brand. However, the changing consumer landscape makes it difficult for us to succeed over the long-term and the Covid-19 pandemic has further exacerbated our challenges. We have enjoyed success over the years, and it has been an honour for Robinsons to serve the Malaysian market,” Robinsons senior general manager Danny Lim said.
It is understood that Robinsons employees have been informed of this situation. Meanwhile, Robinsons stores in Singapore (at The Heeren and Raffles City Shopping Centre) will also undergo a similar process.