SINGAPORE — Metro will shut its Sengkang department store at
Compass Point as the lease is expiring in August and will not be
renewed, ending a 12-year association with the mall.
“On the exact date of closure,
Metro’s management is still working on the matter,” a Metro
spokesman said in response to a query from Channel NewsAsia.
He said Metro would like to continue serving residents in the
Sengkang area, but added: “The opening of a new store, not just
within Sengkang, depends on opportunities present and whether it is
a suitable location with the right conditions.”
Following the closure of the
Sengkang outlet, Metro will be left with four stores in Singapore:
Centrepoint, Paragon, City Square and Woodlands.
Metro, whose main business is
property development, had described the Singapore retail scene as
challenging during its results briefing last month.
When contacted, the management
of Compass Point said it continually reviews and adjusts its tenant
mix, and will provide more details about what it will do with the
space currently occupied by Metro at a later date.
Compass Point is part of
Frasers Centrepoint.
-- CHANNEL NEWSASIA