Seven & I Holdings’ plan to sell its slumping Sogo & Seibu department store unit — so it can focus on its 7-Eleven convenience store business — is not going smoothly, as the firm has had to postpone the sale twice.
The holdup is centered around the flagship Seibu department store in the bustling Ikebukuro district in Tokyo's Toshima Ward, with the local government expressing rare opposition.
Meanwhile, concerns about job security are growing among Sogo & Seibu employees, with some claiming that Seven & I has not been communicating with them properly. This prompted the Sogo & Seibu labor union to establish the right for its members to go on strike.