New City Plaza Closes Three Floors for Store Upgrading

New City Plaza Closes Three Floors for Store UpgradingThe New City Plaza shopping center in Futian have temporarily closed its stores in the first three floors for upgrading and is scheduled to open again in October this year. as of the moment there are only two restaurants, a wine store and a clothing store are the only ones open at the fourth floor of the mall. Customers are thinking that the mall is closing down thus business is starting to slow down.

The mall’s operator Ping An Trust Co. said that store closures are only temporary due to the renovations being done and the New South Movie City found on the third floor is still open for business. Ping An denies the rumors that the shutdown is permanent, a spokesperson for the company said that they have already earned the trust of a large group of customers in the past ten years and most of the stores have incomes of more than one million yuan a month.

The mall opened in 2002 and did not follow the usual trend of introducing low end brands to last minute sales to help offset the rent losses during the upgrading of its stores since the mall is trying to maintain its high end image. The mall operator said the after the upgrades are complete the mall will add more high quality stores.

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