The chairman and executive director of the International Housewares Retail Company, the parent company of the lifestyle products retailer Japan Home Centre (JHC), denied the circulating rumors of potential JHC chain closures following the appearance of "renovation clearance" and "lease expired" notices at several of its retail locations.
According to the statement released by the listed company on Monday, chairman Ngai Lai-ha said the Board has noted certain media reports speculating that JHC are suspected to be facing complete closure.
"The Group hereby solemnly declares that these claims are entirely unfounded and without factual basis."
She noted that the Group's financial operations remain stable, "with sound liquidity and prudent capital management."
Ngai also stressed the Group has implemented business reforms to strengthen competitiveness in response to the evolving market dynamics.
Speculation arose when citizens reported that JHC branches across the city were offering 50 percent off during renovation clearances, prompting many to take to social media to express fears that the chain might be shutting down.
Additionally, some customers noticed "lease expired" notices at multiple stores, including the UpTown Plaza branch in Tai Po, which further fueled speculation.
Established in 1991 with its first branch in North Point, JHC has transformed from a "HK$10 fixed-price discount store" to a specialized home goods retailer, having over 376 branches globally at its peak, including locations in Singapore, Macau, and Cambodia.
As of October last year, there were a total of 314 chain stores in Hong Kong, making up 90 percent of the total branches.
(Phoebe Poon and Nathan Leung)
