Following the news of Robinsons’ closure on Oct 30, DBS Group Research analysts Geraldine Wong, Derek Tan and Rachel Tan says the departure of the Al-Futtaim Group-owned department store is “unlikely to be one-off”.
Robinsons Singapore, on Oct 30, says it will be closing its remaining two stores at The Heeren and Raffles City Shopping Centre for good after suffering from at least six years of losses.
To the analysts, the closure didn’t come as a shock to them.
