Post Mart forced to close some stores to cut losses

Hybrid retailer shuts Shandong, Jiangxi outlets, sublets Henan unit

Retail supermarket chain Post Mart has closed stores in Shandong and Jiangxi provinces and has sublet its stores in Henan province to contractors, as part of the efforts to stem losses from operations in rural China.

Post Mart, jointly run by China Post and US-based China Horizon Investments Group, is a hybrid retailer with strong logistical networks and international retail experience. The company, though often called the rural answer to US retail giant Walmart, has yet to establish its presence in the unique and complicated Chinese rural market.