A health product chain under state-owned company China Resources Group, CR Care, announced the closure of all 19 of its Hong Kong branches due to “external uncertainties and various operational challenges”. The stores will shut down from early next month, with customers urged to redeem products or vouchers with reward points before then.
Despite ceasing to accept new reward scheme members or issue points, CR Care maintained that the decision was made after careful consideration of external factors and operational difficulties. The move reflects a larger trend in the retail industry, with companies like Uselect and Pricerite also closing branches due to stagnant local retail sales.
Recent government statistics revealed a sixth consecutive month of declining retail sales in Hong Kong, dropping by 10.1% year-on-year to HK$29.2 billion in August. The closure of CR Care branches marks another chapter in the evolving landscape of the city’s retail market.