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KUALA LUMPUR (July 14): Japanese retailer AEON BiG (M) Sdn Bhd’s headquarters in Subang, Selangor has been sealed in accordance with a writ of seizure and sale obtained by the bailiff of the court against AEON BiG for failure to settle a judgment sum of over RM140 million after the service of judgment on them.
The action was taken by Mega Continental Sdn Bhd, which is a unit of Penang-based Belleview Group.
This is the latest AEON BiG hypermarket to close, after the Alor Setar outlet ceased its tenancy early.
According to its FY18 financials — the latest data available — AEON BiG posted revenue of RM1.68 billion and net loss of RM54.6 million. It had total liabilities of RM1.06 billion and retained losses of RM561.5 million against total assets of RM1.1 billion.
Today, only 21 AEON BiG stores are still operating.
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