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| | REFILING: Mitsukoshi Ltd. exits H.K. after 25 yrs in retail Asian Economic News - Find Articles (Site not responding. Last check: ) |
 | | Mitsukoshi has not decided to withdraw permanently from the former British colony, which returned to Chinese rule in 1997, as it remains hopeful to find a new place for its department store, the company's Hong Kong office said. |
 | | Mitsukoshi opened business in Hong Kong in 1981, but Philip Cheng, spokesman of the Hong Kong Department Stores and Commercial Staff General Union, which represents 20,000 members and helped the 100 Mitsukoshi staff to secure severance packages, said rising rental cost and changes of taste have caused department stores such as Mitsukoshi to lose business. |
 | | Mitsukoshi's four-story department store in the high-rise center has about 120,000 square feet, but, after redevelopment, the building will have a retail area of 200,000 square feet and rental income will rise three-fold, local reports said. |
| findarticles.com /p/articles/mi_m0WDP/is_2006_Sept_18/ai_n16729773 (692 words) |
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