Clothing brand Bossini has decided to close all its 51 stores in Taiwan by July 31 after its Taiwan business suffers big loss in recent years while operating in Taiwan, CNA reported.
Chairman Bess Tsin said Bossini Taiwan will start discussions with landlords over terms for exiting leases early and all employees made redundant will be compensated as required by local laws.
“The decision to withdraw from the Taiwan market is a difficult one for the company,” said Tsin.
If the company wants to lay off employees, it will have to notify Taiwan's labor authorities 60 days beforehand and negotiate with employees in accordance with the Act of the Protection of Employees During Mass Redundancy, Taiwan's Ministry of Labor said.
“The company and the board would like to express their greatest gratitude to the management and staff of the Taiwan division for their unwavering support to the group in the past years,” Tsin said.
Chairman Bess Tsin said Bossini Taiwan will start discussions with landlords over terms for exiting leases early and all employees made redundant will be compensated as required by local laws.
“The decision to withdraw from the Taiwan market is a difficult one for the company,” said Tsin.
If the company wants to lay off employees, it will have to notify Taiwan's labor authorities 60 days beforehand and negotiate with employees in accordance with the Act of the Protection of Employees During Mass Redundancy, Taiwan's Ministry of Labor said.
“The company and the board would like to express their greatest gratitude to the management and staff of the Taiwan division for their unwavering support to the group in the past years,” Tsin said.
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