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Famima Closing at 8th & Figueroa, But Still Sold on Downtown

By Eric Richardson
Published: Thursday, December 17, 2009, at 10:05AM
Stored Away Ed Fuentes

Signs advertise 50% off deals at Famima's 8th and Figueroa location, which will be closing on Sunday.

Downtowners looking for discounts on Asian treats might want to stop by the 8th and Figueroa Famima, which is marking down most items as it prepares to close its doors on Sunday. The location was the Japanese convenience chain's first in Downtown, and it has since opened five more stores on Bunker Hill and in the Financial District.

The closure shouldn't be taken as a sign that the company is wavering on Downtown, said Famima USA Executive VP Pervez Pir.

"We wanted to get the critical mass" by opening so many stores in such a small area, said Pir, but in the 8th and Figueroa location the strategy "backfired a bit."

A store at 7th and Flower took away more business than the chain expected, and the 8th and Figueroa location's large size made it hard to keep profitable.

"If a store is hurting, we'd rather just scrap it and start again," said Pir.

And start again they will. The chain plans to open a new Downtown store in the next three months. While Pir declined to name an exact location before all the approvals were finalized, he did say that it will be targeted at transit users.

Famima USA is owned by the Family Mart Group, which operates 11,000 stores in Japan and East Asia.

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