SAN-A CO.,LTD.'s supermarket in the Yamanobe Town shopping plaza ceased operations on 31 August. The business is scheduled to be transferred to a supermarket in Akita Prefecture, and the store will be renovated with a view to beginning operations next year.
SAN-A CO.,LTD. had operated a supermarket in the Yamanobe Town shopping plaza, but ceased operations effective 31 August. The business is expected to be transferred to another supermarket in Akita Prefecture, with the store to be renovated and operations set to resume next year.
The company was established in June 1988 and began operating a supermarket in a shopping centre adjacent to Yamanobe Station in December 1989. It expanded its business, including by opening the Kahoku store in Kahoku Town in April 2000.
In March 2003, the company absorbed and merged with a liquor retailer, among other measures, but sales stagnated as competing stores opened and unprofitable liquor stores were closed. The burden of capital investment also weighed heavily, resulting in a net loss of approximately ¥40 million for the fiscal year.
With business performance remaining weak last year and this year, the company's ability to raise funds reached its limit, leading to the cessation of operations. Liabilities are believed to potentially amount to approximately ¥1.105 billion as of the end of May this year.
SAN-A CO.,LTD. President Watanabe Kojiro (渡辺康二郎) explained that the business at Bell would be transferred to a supermarket in Akita Prefecture, the store would be renovated, and operations would begin next year.