Eslite Spectrum Corp, which runs the Eslite bookstore chain in Taiwan, is waiting for approval from its landlord to extend the lease for its 24-hour store in Taipei’s upscale Xinyi District (信義).
In its annual general meeting on Friday, Eslite chairwoman Mercy Wu (吳旻潔) told shareholders that the bookstore chain has been at a stalemate with conglomerate Uni-President Group, the largest of its seven landlords of the Xinyi store, in its talks to extend the location’s lease, which expires at the end of 2023.
The statement has raised fears that Taiwan’s only 24-hour bookstore could disappear if it cannot extend its lease.
The Xinyi store began 24-hour services in the spring of 2020, soon after the Eslite branch in the Dunnan (敦南) area closed in May that year. That branch opened in 1989 and began 24-hour operations in 1999.
Eslite has twice offered better terms in a bid to keep the location, with six of the seven landlords supporting the lease, and Uni-President Group being the only one to not respond, Wu said.
Eslite has agreed to a rent increase and to allow the landlords to share more of the sales revenue from the Xinyi branch, she said.
Eslite has paid NT$8 billion (US$272.57 million) in rent for the Xinyi branch over the past 18 years, she added.
Market sources said that Uni-President Group, which owns Taiwan’s largest food brand, Uni-President Enterprises Corp, and runs the 7-Eleven convenience store chain in Taiwan, owns an approximately 40 percent stake in the property where the Eslite Xinyi branch is located.
The other landlords include Prince Building and Development Corp, Tainan Spinning Co, Universal Real Estate Development Co and Kung Ching International Development Co.
Wu said many shareholders are concerned about whether the lease might be extended, adding that Eslite has been sincere in its dealings with the landlords about continuing the Xinyi branch, which attracts 12 million visitors a year.
Sources said Uni-President Group is considering using the property to extend the Uni-Ustyle department store, which is adjacent to the Eslite Xinyi outlet.
The Uni-President Group said that it is still considering the terms of the new contract given that there is ample time before the current lease expires.
Wu said that she hopes to receive a reply soon so that Eslite can move forward in its operational planning, emphasizing that her company does not want the location to close.
Eslite has new stores in New Taipei City’s Sindian District (新店) and Taichung scheduled to open next year, Wu said.
The Sindian store is planned to be an 19,000 ping (62,810m2) mega outlet within a shopping center being developed by the automaker Yulon Group, Wu said.
That branch is to contain restaurants, coffee shops and cultural creative stores, and is currently seeking tenants, she said, adding that the branch is expected to generate NT$4 billion to NT$5 billion a year, with food and beverage shops accounting for up to 40 percent of revenue.
Eslite is also planning a to open a new store in Tainan in 2024, which at 6,500 ping would be the largest bookstore in the city.
EVA Airways was ranked the eighth-best airline in the world for this year, the only Taiwanese carrier to make it into the top 25 Airline Excellence Awards this year, aviation reviews Web site AirlineRatings.com said on Wednesday. AirlineRatings.com has a seven-star rating system to evaluate more than 360 airlines around the world every year, EVA Airways said in a statement on Thursday. “We are delighted that efforts by the entire EVA staff have been recognized by Airline Ratings,” EVA Airways president Clay Sun (孫嘉明) said in the release. During the COVID-19 pandemic, the company identified and adopted services and procedures that enhance and
Exiled Chinese democracy advocate Wang Dan (王丹) yesterday denied an accusation by former Taiwanese political worker Lee Yuan-chun (李援軍) that Wang had sexually harassed him in a hotel room in New York nine years ago. There was a huge gap between Lee’s accusation and his own understanding and memory, Wang wrote on Facebook, adding it was hard for him to respond further regarding a “unilateral description” made by someone else. Wang made the remarks after his initial response on Facebook was met with criticism, with people saying he did not directly address the allegation. Lee on Friday wrote on Facebook that he
‘NEGLIGENCE’: After reporting the incident, her superior allegedly asked her why she did not scream, which was an inappropriate attempt to ignore the allegations, critics said An accusation of sexual harassment led to the resignation of a top Democratic Progressive Party (DPP) official, while President Tsai Ing-wen (蔡英文) has called for a thorough investigation into the incident involving a contractor. Vice President and DPP Chairman William Lai (賴清德) yesterday said he approved the resignation of DPP deputy secretary-general Hsu Chia-tien (許嘉恬), who headed the party’s Women’s Development Department when the alleged incident happened in September last year. “Gender equality is among our party’s core values, that we have strived for and advanced along with Taiwanese society,” Lai said. “The DPP did not handle it appropriately at the time,
#METOO MOVEMENT: A woman who formerly worked at the TPP said that she was repeatedly harassed by a party deputy secretary last year and it was covered up Vice President and Democratic Progressive Party (DPP) Chairman William Lai (賴清德) yesterday announced new party procedures for filing complaints and investigating reports of sexual misconduct in response to more accusations of negligence against the party in handling reports of sexual abuse. In what local media dubbed Taiwan’s #MeToo movement, more people went public yesterday with allegations about the DPP, other parties and local governments. Lai said he deeply regrets the situation and apologized to the victims, while also praising them for having the courage to come forward. “When facing bullying and violations in the workplace, it is most important to stand up to