Last year, Parkson of Malaysia closed its last department store in Hanoi after eight successive years of losses. In Ho Chi Minh City, the Parkson Paragon was closed in May 2016, just five years into a 19-year lease. It now appears that the remaining seven stores (five in HCM City, one in Hai Phong and one in Danang) are also due to close, putting an end to the retailer's presence in the country. Parkson arrived in Vietnam in 2005, opening in Saigon, expecting to dominate the middle retail market, and bringing a number of brands. However, the competition was fierce, notably from Japan and Korea, who set up rival businesses. Parkson is not the only retailer to bow out of Vietnam: Metro Group has abandoned its Cash & Carry operations, French Casino Group and others have also left. The latest casualty is FamilyMart UNY from Japan.