Over 40 Grocery Stores Expected To Shut Down This Year

[george]

Over 40 grocery stores expected to shut down this year: survey

BANGKOK: -- Over 40 per cent of traditional retail shops in Bangkok would shut down their business this year due to higher competition, according to Sripatum University's International Retail and Franchise Business R&D Centre (IRF).

The centre said the shops' combined sales value is about Bt100 billion.

Peerapong Kittiveshpokawat, director of the centre, said a survey of 400 samples from over 50,000 small retailers showed over 40 per cent are prepared to shut their businesses.

"Their business has been largely affected by multinational companies' expansion as well as 24hour convenience stores," he said.

-- The Nation 2007-01-11