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 Singaporean household retail chain, has shut down several of its outlets since June, signaling a potential takeover by the dollar-store operator Valu$. The company, which has a 30% stake in Japan Home, has sent queries regarding the extent of the takeover. Japan Home's five stores in Hougang Mall, Century Square, Northpoint City, Harbourfront Centre, and Buangkok Square announced their closing down sales on the company's Facebook page between June and July.
The company's website is currently under maintenance. During a visit to nine Japan Home stores on August 18, BT found three stores shuttered and six closed for stocktaking, with significant Valu$ stocks present in some of them. Japan Home staff informed BT that the current situation is due to a change of management, with some believing the store had been entirely sold to Valu$.
Valu$ operates under the dollar-store concept and is run by DD Private Ltd, a company founded by Radha Exports in 2005. Radha Japan, the parent company of Japan Home, owns a 30% stake in the business.
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