Charleen Teh, Author at Goody Feed

It seems like Koufu Cookhouse isn’t the only group facing financial perils or trouble at the negotiating table, because Kinokuniya has also announced that its Jurong branch in JEM will be closing down on 9 May. This also means that Kinokuniya will only have two physical stores left in Singapore: its flagship store in Ngee Ann City and its Bugis Junction Branch. Reason: The Rent Increase According to Kinokuniya’s Asia-Pacific group managing director Yukihiro Kawakami, the main issue was the rent. He explained that the government subsidies have assisted the book business in keeping the rent affordable within the last two years, but the gradual move to the new normalcy has given rise to “impending increased rental charges”. The new normalcy which includes and does not withstand: higher inflation, the fact that Jurong East has become more valuable as it grows into a regional hub for businesses, and the general economic conditions brought about by the pandemic, Ukrainian crisis, and sluggish recovery of the global economy. Moreover, Mr Yukihiro revealed that the bookstore has been receiving less traffic even before the COVID-19 pandemic struck, and the store had tried its best to stay afloat despite the trying times. Simply put, brick-and-mortar stores are no longer as appealing with the convenience of e-books, or order online and receive it via home delivery. All of these challenges, plus the extended period of subnormal sales, have badly affected Kunokuniya’s return on investment. However, Mr Yukihiro assures that the small number of staff will still have their jobs as they’re redeployed to other branches. A Throwback in the Store’s History JEM’s Kunokuniya boasts a 7,800 square footage, and it officially opened for business on 11 June 2013. By no fault of its own, it had a few troubles that plagued the rest of JEM, like the lack of necessary fire permits which delayed the mall’s opening, two fires, and one ceiling collapse because of a burst water pipe. No proper fire permits and safety in a place full of flammable pulp? Oh, the horrors. Hence, its closure on 9 May would mean that its nine-year-long partnership with the mall will come to a saddening end. However, Kinokuniya has no intention to back down from its usual traditions. The members’ promotion that is happening across all three outlets on 23 April, which is World Book Day, will continue as scheduled. Mr Yukihiro also promised that Kunokuniya will attempt to minimise stock return to local suppliers to control the damage to the local industry. For the same reasons, he implores book lovers to support the book industry more by buying books. Hm, I wonder if there will be a clearance sale? Join our Telegram channel for more entertaining and informative articles at https://t.me/goodyfeedsg or download the Goody Feed app here: https://goodyfeed.com/app/ The Fate of Other Bookstores The local book scene has been terribly impacted by the pandemic and other factors. In 2019, Kunokuniya also had to close its 36-year-old Liang Court store, which had been its landmark branch in Singapore. It had closed down ahead of the mall’s redevelopment plans. Other veteran bookstores like Wardah Books in Kampong Glam went through some restructuring, whereas the more indie-inclined bookstore called The Moon shut down its physical store and went online fully. Honestly, it’s a tough time for business, especially for brick-and-mortar stores. Read Also: CASE Issues Alerts for 3 Reno Contractors for Complaints Over Uncompleted Work NUS Investigating After They Found Cryptocurrency Mining Rigs in Their Hostel 82YO Woman Has to Stay in a Hotel As Daughter Refuses to Take Care of Her Dog That Broke Out from SIA Plane Crate Finally Found After 9 Days Featured Image: Google Maps