7-Eleven to exit Indonesia

All 120 7-Eleven stores in Indonesia will cease to operate this Friday, 30 June, announced Modern Internasional, the parent firm of Modern Sevel, 7-Eleven's franchise operator in the country.

The c-store chain has suffered losses in recent years and its owner has "limited resources to support operations," reports Nikkei Asian Review.

Plans to sell the convenience store chain to an affiliate of Thai conglomerate Charoen Pokphand Group did not materialize either.

Competition in the local retail market has been tough as the 7-Eleven franchise competed both with local food stores and top two increasingly expanding c-store chains Indomaret and Alfamart.