Singapore Store Hao Mart Closes Last High-End Store

Hao Mart's last high-end store in Singapore has closed. It was located in Marina Square.

A spokesperson said the store's lease ended naturally and there were no issues. The spokesperson works for SingLand, a company that co-owns Marina Square.

This is what an Eccellente store looked like before it closed.

Now, all high-end Hao Mart stores are closed. At least seven other stores had already closed before this one.

Hao Mart has also reduced the number of its stores. Only six stores are still open in different areas of Singapore.

But the company's website still lists 20 stores, including some that are closed.

The store closure happens after a tough time for the company. Hao Mart lost a lot of money in the last year, which is its third year of losing money.

The company is also dealing with legal issues related to its business and old stores.

Hao Mart is facing five big lawsuits, including cases with a department store and a property agency.

One of the lawsuits is from a department store that says Hao Mart did not pay rent and sublet parts of the store without permission. The department store wants SGD6.6 million from Hao Mart.

Most of the lawsuits are because of the closure of one of Hao Mart's store concepts.

Hao Mart started in 2018 as a neighborhood store chain. It later opened different types of stores, including high-end grocery stores and a food-focused mall.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

Praticar Escuta

Praticar Escuta