Japan's World Co to shut 358 stores by March 2021

World Co, a clothing company headquartered in Kobe, Japan, will close 358 stores in the country by the end of March 2021. The decision is a part of the company's structural reform measures undertaken due to the novel coronavirus pandemic. The company, which owns a number of brands, will also discard five clothing brands and is considering scrapping more.

 

World Co, a clothing company headquartered in Kobe, Japan, will close 358 stores in the country by the end of March 2021. The decision is a part of the company's structural reform measures undertaken due to the novel coronavirus pandemic. The company, which owns a number of brands, will also discard five clothing brands and is considering scrapping more.#

As the company aims to improve its profitability, the structural reform measures would include a voluntary early retirement programme resulting in shedding about 200 jobs, Japanese media reports said. The programme would target employees aged above 40, and will begin next month.

 

World Co, a clothing company headquartered in Kobe, Japan, will close 358 stores in the country by the end of March 2021. The decision is a part of the company's structural reform measures undertaken due to the novel coronavirus pandemic. The company, which owns a number of brands, will also discard five clothing brands and is considering scrapping more.#

Founded in 1959, World Co initiated a management buyout in 2005, making it a privately held company. The company produces no clothing under its own name, but instead owns a number of brands under which it markets its clothing.

 

World Co, a clothing company headquartered in Kobe, Japan, will close 358 stores in the country by the end of March 2021. The decision is a part of the company's structural reform measures undertaken due to the novel coronavirus pandemic. The company, which owns a number of brands, will also discard five clothing brands and is considering scrapping more.#

Its brands like Aquagirl and Ozoc for young people are among the ones to be closed, as they are unprofitable.

 

World Co, a clothing company headquartered in Kobe, Japan, will close 358 stores in the country by the end of March 2021. The decision is a part of the company's structural reform measures undertaken due to the novel coronavirus pandemic. The company, which owns a number of brands, will also discard five clothing brands and is considering scrapping more.#