JAKARTA. PT Ace Hardware Tbk (ACES), a retailer under Kawan Lama Group, recently closed down one of its Ace hardware stores in Emporium Pluit, Jakarta.
The said store was 800 m2 and had been operating more for more than ten years. Helen Tanzil, Corporate Secretary of ACES, explained. “It was closed because the leasing contract is up,” she confirmed in the information disclosure in Indonesia Stock Exchange.
According to idnfinancials.com, ACES had also closed one of its stores in Surabaya. Similarly, the said store was shut down due to the leasing contract that had ended and was not extended.
The closedown of these two stores brought the total of operating Ace Hardware stores in Indonesia to 214 units. They are spread across several cities in Java, Sumatra, Kalimantan, Sulawesi, and some more cities in Eastern Indonesia.
As of September 30, 2021, ACES posted sales of IDR 4.6 trillion, while its net profit reached IDR 322.85 billion. (KR/ZH)