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Saigon Co.op to close oldest supermarket in downtown Ho Chi Minh City

Saigon Co.op to close oldest supermarket in downtown Ho Chi Minh City

Friday, August 28, 2020, 18:29 GMT+7
Saigon Co.op to close oldest supermarket in downtown Ho Chi Minh City
Customers queue for checkout at the Co.op Mart Cong Quynh supermarket in District 1, Ho Chi Minh City. Photo: T.T.D. / Tuoi Tre

The 24-year-old Co.op Mart supermarket located on Cong Quynh Street in District 1, Ho Chi Minh City is likely to be shut down as the premises are due to be returned to the landlord next year.

Known as Co.op Mart Cong Quynh, the supermarket might have to close its doors in the first quarter of 2021, a representative of retailer Saigon Co.op — which operates the Co.op Mart supermarket chain — said on Thursday.

The reason for the potential closure is that the Border Guard High Command, which owns the land plot on which the supermarket sits, has requested to take back its estate.

According to the Saigon Co.op representative, the cooperative is negotiating with the landowner on the premises to ensure the shopping needs and interests of customers.

Previously, the Office of the Ho Chi Minh City People’s Committee had sent a written request to the Border Guard High Command, asking it to allow Co.op Mart Cong Quynh to operate there until the end of March 2021.

Established in 1996, Co.op Mart Cong Quynh was the first-ever supermarket under the Co.op Mart chain.

It remains in the brand's top ten highest-grossing stores.

Saigon Co.op is Vietnam’s leading retailer with an estimated revenue of US$1.3 billion a year, according to a 2020 list compiled by British market research firm Euromonitor International.

In June, Big C Mien Dong, a major supermarket run by Thailand’s Central Group in Ho Chi Minh City’s District 10, was also rumored to be suspending its operations due to a rental disagreement with the landlord.

However, the store remains in operation as usual as of August.

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