China Business News, 1/08/09
Consumer electronics and home appliance retailer Dazhong Electronics reportedly has plans to close 4 poorly performing outlets in Beijing. The four stores that will be closed are located in the districts of Fengtai, Haidian, and Xuanwu.
A source from Dazhong Electronics confirmed the reports, stating that one store had already been closed. Another source at the Beijing branch of consumer electronics manufacturer Skyworth Digital Holdings (0751.HK) stated that Dazhong Electronics has informed suppliers of the store closings.
Dazhong Electronics currently has 65 stores in the Beijing area, and controls approximately half of the city's home appliance retail market.
Recently, rival retailer Suning (002024.SZ) announced plans for store expansions in the Beijing area.