Tencent Tech, 6/30/09
Chinese home appliance retailer Sanlian Commercial (600898.SH) has announced that it has reopened its Zaozhuang, Shandong province retail store on June 27, taking in RMB 3.16 mln in revenue in its first two days. Sanlian Commercial had to find a new location after Sanlian Group dissolved the previous rental agreement and forced Sanlian Commerical to close on May 3. The new store has nearly 4,000 square meters of floor space and a staff of 80 employees.
Sanlian Commercial also said that in order to maximize profitability, the company has decided to shut the doors of its store in Zibo, Shandong due to its financial woes. The store will close after the lease expires on June 30. In 2008, the Zibo store had RMB 66.04 mln in revenue for an operating loss of RMB 5.4 mln.