Jakarta (VNA) – All 160 7-Eleven convenience stores in Indonesia closed down on June 30.
Business has become difficult for the US convenience store chain, with its first outlet opened in Bunlungan, South Jakarta in 2009.
Modern Internasional – the owner of the 7-Eleven franchise license – had opened more than 160 outlets before June 2017.
The group operated the chain using a restaurant licence issued by the Indonesian Tourism Ministry until the operation was questioned by the country’s Trade Ministry because 7-Eleven also sold consumer goods.
In 2012, the Trade Ministry sent warning letters to Modern Internasional, urging the firm to comply with retail regulations.
Indonesian Retailers Association Chairman Roy N. Mandey said the closing of 7-Eleven stores in Indonesia would set a bad precedent for foreign investors.-VNA
Business has become difficult for the US convenience store chain, with its first outlet opened in Bunlungan, South Jakarta in 2009.
Modern Internasional – the owner of the 7-Eleven franchise license – had opened more than 160 outlets before June 2017.
The group operated the chain using a restaurant licence issued by the Indonesian Tourism Ministry until the operation was questioned by the country’s Trade Ministry because 7-Eleven also sold consumer goods.
In 2012, the Trade Ministry sent warning letters to Modern Internasional, urging the firm to comply with retail regulations.
Indonesian Retailers Association Chairman Roy N. Mandey said the closing of 7-Eleven stores in Indonesia would set a bad precedent for foreign investors.-VNA
VNA
