Homemart, a building supplies retail chain owned by Bailian Group, has suspended the operation of its two Beijing outlets, Xisanqi store and Sijiqing Bridge store.
When asked why operations had been suspended a representative of the company denied that it was due to operating loss. The spokesperson said the two stores were merely closed for business restructuring.
In addition, Homemart's marketing director Lu Jun said that the company would make changes to its internal management structure at the end of the year and a detailed timetable for the reopening of the two stores was not available.
Lu said although the Homemart brand was not very well-known, the performance of the two stores had been good. The reason for the suspension was not because of operating loss. The operation of Homemart's Beijing office was running normally and its business would be operated with due regard to the interests of its stake-holders.