Five Japan Home stores shutter; staff say Valu$ taking over operations
Valu$ operator has stake in both businesses; BT has sent queries on takeover extent
Japan Home, a household retail chain in Singapore, has announced the closure of five of its stores since June. The company attributes the decision to a "change of management," with some staff believing that the stores have been sold to Valu$, a dollar-store chain. Valu$ holds a stake in Japan Home, with DD Private Ltd, founded by Radha Exports in 2005, owning about 30% of the company.
The remaining shares are held by Japan Home Centre (Management) Ltd. Some Japan Home outlets are now operated jointly with Valu$, including locations in Bedok and Woodlands. Despite reports, Valu$ is not replacing Japan Home but is instead taking over operations. The closure announcement was made on Japan Home's Facebook page, and the company's website is currently under maintenance.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Five Japan Home stores shutter; staff say Valu$ taking over operations businesstimes.com.sg
