TOKYO, Sept 08 (Arab News): After more than three centuries in business, the Onuma department store in northern Japanese city of Yamagata began bankruptcy proceedings this year - one of many distinguished department stores across the country in dire straits.
Known for fancy food halls, luxury items, impeccable service and, in their heyday, rooftop attractions to entertain families, Japan's department stores have been in a long slow decline as shopping habits change.
Now the coronavirus pandemic, just as it has forced US retailers such as Lord & Taylor and Neiman Marcus into bankruptcy, is hammering nails into coffins for some - particularly those in regional areas.
Last month, 146-year-old Nakago closed the doors of its last remaining store in Fukushima city, also in the north, while Izutsuya Co. Ltd, a chain in the southern city of Kita Kyushu, shuttered one of its two main stores.
Japan's dept stores face bankruptcy
FE Team | Published: September 08, 2020 22:21:30
Japan's dept stores face bankruptcy
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