What: another Japanese department store to close business in Thailand

Why it is important: the closure of Tokyu operations in Thailand makes it the second department store chain to exit the country after the withdrawal of Isetan earlier this year. Competition is harsh in Thailand and the lack of tourists due to the pandemic has been another setback for retailers.

Tokyu department store, located inside Bangkok’s MBK Centre shopping mall, will close doors in January. Tokyu closed its other store at Paradise Park, also operated by MBK Plc, in January last year. The department store has operated in the country since 1985. Tokyu is the second Japanese department store chain to exit the country after Isetan last September.

Tokyu Bangkok announcement

Bangkok's Tokyu store to close in latest exit by Japanese retailer

Related item:

• Isetan Bangkok to close