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British Retailer Slims Down Presence in Thailand.
Byline: Sukanya Jitpleecheep
Feb. 1--Trimming back its international presence, Boots, a British retailer of personal-care products, plans to close 15 of its 67 stores in Thailand over the next six months, writing off almost 100 million baht in assets.
The closure reflects Boots' revised strategy for overseas expansion under which it may no longer concentrate on opening main-street stores. Instead, it will look at selling its products on specially set aside shelves in supermarkets.
The stores to be closed were either running at a loss or the option to renew the lease would not be taken up, Boots Company said in a statement.
However, ...
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