Sogo & Seibu to close Shibuya store in September

Seibu department store in Tokyo's Shibuya Ward
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Sogo & Seibu said Wednesday that it would close its iconic Seibu department store in Tokyo's Shibuya Ward at the end of September.The closure comes as the company failed to reach an agreement on a contract extension with the rights holder for the land and buildings housing the store over the redevelopment of the site.The Shibuya store opened in April 1968 in an area long known as a youth-culture hub
It anchored the company's department store network, but in recent years it has posted persistent losses.The closure will cover the A building, which includes the food floor, as well as the B building, housing clothing and sundry goods tenants, and a parking hall
Sogo & Seibu employees currently working at the Shibuya store will be assigned to other posts within the company.The Loft building, which is owned by Sogo & Seibu, and the Movida building, housing a Muji household goods shop, will remain in operation."We would like to express our sincere gratitude to everyone for their support for our Seibu Shibuya store over the years," Sogo & Seibu said.The move leaves Sogo & Seibu with nine outlets nationwide, with the Seibu Ikebukuro store as its sole presence in Tokyo.

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Seibu(https://www.japantimes.co.jp/tag/seibu), department stores(https://www.japantimes.co.jp/tag/department-stores), Shibuya(https://www.japantimes.co.jp/tag/shibuya)
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