Automatic Centre, the Philippines’ oldest appliance and electronics retail store chain, will shut down on October 10, due to the challenges brought by the coronavirus pandemic.
“The COVID-19 pandemic has caused tremendous challenges on our business and it is with much regret and trepidation that we share this news with you today,” Automatic Centre president and chief executive officer Geoffrey Lim said in a letter to business partners on Wednesday, September 8.
Lim assured partners that the company will honor obligations and intends to “work closely” with them to ensure a smooth transition and closing process.
Details regarding separation pay of workers and other shutdown matters were not discussed in the letter.
The CEO added that the Lim family is seeking outside parties interested in using or adopting the Automatic Centre brand, which has been around for more than 70 years.
Automatic Centre was founded in 1948 by Benito Lim and has some 20 stores in Metro Manila. – Rappler.com