Parisian department store will be the next of many to shut down
Parisian city officials are mulling a move that could mean up to 40% of the country’s department stores and stores of the big five will close this year.
The move, which could include shutting down the countrys biggest department stores including Paris Saks and Saks Offices, could also lead to the closure of hundreds of stores across the country.
The Parisian Department Stores Association (DSDSA) has said it has put in place plans to cut 10% of its stores in the country by 2021.
The association said it expects the number of department stores to drop to about 10,000.
“If we have to close one of our stores, we have the power to close another.
But that’s not the end of the story,” a spokesman told Reuters.
In a statement to Reuters, the Parisian government said the department stores in question would not be able to operate in the city.
It added that its focus would be on other projects, including economic growth and improving quality of life.
“The department stores are important to our city.
We are proud of our department stores,” Paris Mayor Anne Hidalgo said.
The department store association, which has been in talks with the government, said the Paris government has agreed to reduce its share of its budget for 2020 from 10% to 5% for two years, but not the total amount of funds.
Parisian Mayor Anne de Villiers told Reuters: “We have to be careful that we don’t destroy the very important and important buildings that we have here in Paris.”
“We have a long way to go.
It will be a hard year.”
The department shops are the mainstay of Paris and are popular with tourists and locals.
The chain is the second largest department store chain in the world behind department store owner Saks Fifth Avenue, which owns the largest chain of department store in the US.
The association said the decision to close the Paris department stores was taken by the French government as part of its efforts to cut its budget.
“We are happy with this decision.
We will continue to operate our Paris department store and we will also continue to offer our services and products in Paris.
We believe that we can still contribute to Paris and the city’s economic development,” it said.
A spokesman for Saks said the company would not comment on the reasons behind the closure.
France has one of the highest rates of obesity in the developed world, and the Paris area has some of the worlds highest rates.
In January, the French Government said the country would lose its biggest department store group, the Saks Group, by 2020.