Lotte Was Beaten? Will Sell Supermarket Business In China

According to the understanding of the world clothing shoe and hat net, affected by the deployment of the sadad antimissile system in Korea,

In China, the performance was dismal and overburdened, and finally decided to sell the supermarket in China.

Lotte had been repeatedly exposed to withdraw from the Chinese market, but denied by company officials.

South Korea's new Sith news agency quoted Lotte sources 14 days ago that Lotte recently decided to sell Lotte Mart in China supermarket, and chose Goldman Sachs as the head of the sale company.

At present, the scope of sale has not yet been determined, but it is not possible to exclude the possibility of selling all 112 supermarkets in China.

Lotte official said, "the sale process is under way, and if possible, all the stores in China will be sold."

The report also said that some Chinese local circulation enterprises are interested in acquiring Lotte Mart's business in China.

But the specific company name has not yet been announced.

Emergency injection

In 2016, Lotte Mart's overseas turnover lost 24 billion won, of which 80%-90% took place in the Chinese market.

According to reports, 87 of Lotte Mart's 112 shops in China have been shut down, and the rest of the shops are almost closed.

For months, the news of Lotte Group's supermarket from the Chinese market has been heard, but it has been denied by Lotte, saying the group has not discussed the withdrawal.

In any case, "more than 20 subsidiaries of Lotte Group have entered the Chinese market. If Lotte Mart withdraws China, other subsidiaries will be very dangerous. Even for the sake of preserving the brand value of music, we will also support lottian Marte by means of capital injection."

In the early August 29th, Lotte Group said it would launch the second round of emergency capital injection for Lotte Matt, who was in trouble in China due to the "Saad" problem.

Lotte Group at that time said Lotte Mart had lost 500 billion won (about 2 billion 900 million yuan) in China, and if the business was suspended until the end of the year, the loss would reach 1 trillion won (about 5 billion 900 million yuan).

Lotte Matt, a related official, said: "after second rounds of capital injection, Lotte Mart should be able to adhere to the end of the year in China and hope that the stores will resume business at the end of this year or early next year."

At the end of August, Lotte's immediate injection of 360 billion won to Lotte Mart China stores is expected to last until the end of this year.

Freezing point

The original Lotte side is still looking forward to the improvement of China ROK relations after the government took office.

However, the South Korean government has deployed the remaining Saad launcher recently, and the bilateral relations will further fall to the freezing point.

The once happy group of Lotte encountered a "fight face" after a month.

According to South Korean media, Edaily 14 reported that Lotte Matt's official said that although he wanted to continue doing business in China, it was very difficult.

Due to the "slim road ahead" option, Lotte Mart was disposed of.

A customer who entered Lotte supermarket revealed that Lotte Group Buying cards ceased to sell 3 months ago.

She came to Lotte supermarket this time because she heard that Lotte supermarket was about to "change hands" and hurriedly used up the remaining Lotte shopping cards.

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