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GERG News

2015.05.04

Golden Eagle's Hefei Baihuajing Store and Dadongmen Store to suspend operation from 10 May 2015

Golden Eagle Retail Group Limited announced that its Baihuajing Store and Dadongmen Store in Hefei, Anhui Province will suspend operation from 10 May 2015 due to property rights dispute and constraints in operational conditions.

With respect to the suspension of operation, Golden Eagle commented,"Our Baihuajing Store is located at a leased property, which is owned by a third party. Property rights dispute has led to insurmountable difficulty in carrying out our normal operation in Baihuajing Store. Meanwhile, the operation of our Dadongmen Store, which has long been affected by subway construction, is unable to meet Golden Eagle's consistent standards for customer service. Upon serious consideration, the Group has decided to suspend the operation of the two stores. The total gross floor area of the Group's retail chain stores reach 1,534,387 square meters, while that of Baihuajing Store and Dadongmen Store is 12,294 square meters and 10,356 square meters, respectively. The suspension of the operation of the two stores has limited impact on the Group's overall operation and sales."

"Despite the suspension of operation of Baihuajing Store and Dadongmen Store, Golden Eagle will continue to provide customers in Hefei with outstanding and thoughtful services. VIP customers and holders of Golden Eagle's other membership cards can enjoy the same services in our Hefei Suzhou Road Store (4 Suzhou Road, Luyang District, Hefei City) or any other Golden Eagle stores all over the country. In addition, our Hefei Suzhou Road Store will continue to offer one-stop aftersales service to customers for products return or exchange to ensure satisfactory shopping experience."Golden Eagle commented.

 
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