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"For many designers, operating stores in China is very expensive, especially if they have to enter major shopping centers," he said.
Kmart, the nation's third-largest discount retailer, said yesterday that all 2,114 of its currently operating stores would remain open for now.
Mr. Gross said that the proposed Grand Union acquisition was not the company's first venture into operating stores but that it was its "first significant venture into retailing".
Beginning in 1982, BK and its franchisees began operating stores in several East Asian countries, including Japan, Taiwan, Singapore and South Korea.
In addition to canceling 50 new projects, the world's largest home improvement chain said it was shutting down 15 operating stores across America, bringing the total to 65 stores abandoned or closed.
"I am not saying that there are no true non-profit collectives involving only patients and their primary caregivers that are operating stores – there may be, but we have not seen one yet.
Similar(49)
It was Chinatown's longest continuously operating store.
Bradlees operates stores in New York, New Jersey, Connecticut, Massachusetts, New Hampshire, Maine and Pennsylvania.
Gruppo Coin, based in Venice, operates stores in Italy and Germany.
Sutton Place operates stores in New York, Connecticut and the Washington area.
The closely held D'Agostino operates stores in New York City and Westchester County.
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