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PETALING JAYA (July 21): Japanese homewares and lifestyle retailer Muji said that its business in Singapore and Malaysia will operate as usual despite the United States arm filing for bankruptcy protection, reported Channel News Asia.
According to the report, Muji Singapore’s operations were helped by the Government’s COVID-19 relief measures.
Singapore has released four Budget packages aimed at mitigating the impact of COVID-19 on the economy and helping businesses and workers. The Government will spend a total of S$93 billion (RM285.2 billion) on these measures.
The spokesperson for Muji Singapore said the US business suffered continuous losses due to factors such as high rents that were a “bottleneck in terms of profitability”.
Muji USA Ltd filed for bankruptcy in the state of Delaware on July 10. According to a report in online fashion and retail news portal WWD, Muji USA plans to use the bankruptcy process to restructure and to move towards online shopping.
However, the Singapore Muji spokesperson noted that the company does not plan to submit similar applications in other countries.
“We would like to assure all of our corporate and media partners that the business operations in Muji Singapore and Muji Malaysia will be as usual,” the spokesperson said.
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