Withdrawal from China

According to Home Depot, its seven remaining stores in China are to be closed down. The company intends to focus in future on specialty stores and online business. The closures will affect a workforce of 850. “Making the decision to close stores down is always difficult,” comments Frank Blake, chairman and CEO of Home Depot.Two specialty stores opened recently by Home Depot will still remain in operation. These are a paint and flooring outlet and a specialist decorating store in Tianjin.