Matahari Closed 7 Stores Because of Corona, Here Is the Location

Jakarta –

PT Matahari Department Store Tbk has closed 7 outlets because they cannot bear to bear losses of up to Rp 617 billion due to the COVID-19 pandemic. The hundreds of billions of losses were the company’s net losses from January to September 2020.

“The COVID-19 pandemic has accelerated the closure of underperforming outlets, in line with Matahari’s efforts to restructure its business. Throughout this year, seven large-format outlets and all specialty outlets were closed,” said Matahari CEO and Vice President Director Terry O’Connor. the official release is quoted from the IDX Information Disclosure, Friday (23/10/2020).

The seven outlets will be permanently closed. The 7 outlets are located in Palembang, Bogor, Jakarta, Balikpapan, Bali, Padang and Cirebon.

“Large format outlets are located in Palembang, Bogor, Jakarta, Balikpapan, Bali, Padang & Cirebon,” said the Corporate Secretary Matahari Department Store Miranti Hadisusilo told detikcom.

Apart from closing large format outlets, all specialty outlets were also closed. The special outlets in question are located in Jakarta, Surabaya and Medan. However, this particular outlet was only temporarily closed.

So that currently, Matahari only operates 153 outlets in 76 cities throughout Indonesia. The plan, issuers coded LPPF shares this will close 3 other outlets by the end of the year.

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