JAKARTA. After 8 years, PT Ace Hardware Indonesia Tbk (ACES) announces that it will close its outlet in Kuningan City, Jakarta.
Helen Tanzil, Corporate Secretary of ACES, said that the decision was made because the company did not extend the lease contract at the mall, which is owned by PT Agung Podomoro Land Tbk (APLN). "It was closed because the lease period has ended," said Tanzil through a disclosure published on the Indonesia Stock Exchange's website.
ACES opened the outlet on 3 May 2012. The total area of the outlet is 1,200 square meters.
According to the data gathered by idnfinancials.com, ACES has opened 11 outlets in 2020. The company plans to open 15 new outlets this year. The company currently operates 206 outlets in 49 cities. (KR/AR)