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In line with experiences on Lianhe Zaobao and The New Paper, Malaysian bookstore chain MPH is closing the shutters of its final 2 retailers in Singapore.
The 2 retailers, positioned at Raffles Metropolis and Parkway Parade, will likely be closed on the 28th of this month and 1st of September respectively. The bookstore can also be stated to have begun clearing inventory.
There are plans to relocate to a single outlet, however the firm declined to named seemingly areas “due to negotiations”.
MPH cited “unsustainable” excessive rental prices and “intense competitors” from main ecommerce gamers in Singapore as the explanations for the closure.
The corporate shared that it’s presently restructuring and streamlining assets for brand new enterprise initiatives, and that it’s “assured that bookstores will proceed to be related”.
MPH, quick for ‘Methodist Publishing Home’, was based in 1890 and is headquartered in Petaling Jaya, Selangor in Malaysia.
It has 29 retailers in Malaysia and launched ecommerce website MPHOnline in 2000.