The remaining 141 7-Eleven outlets in Indonesia will cease operations today (Friday), said franchise-owner of the 24-hour convenience store, Indonesia PT Modern Internasional.

In a statement to the Bursa Efek recently, its Director, Chandra Wijaya, said the decision was taken given the limited resources to support operations and also to the sale and purchase of its shares.

The company was reported to have agreed to sell the franchise to PT Charoen Pokphand Restu Indonesia but it was called off when both parties failed to reach a consensus on certain matters.

There were some 175 7-Eleven outlets operating in Jakarta until September last year.

At the end of 2016, more than 20 stores started closing down as they were not profitable.

The chain outlets was first introduced in 2008 by PT Modern Internasional's subsidiary, PT Modern Sevel Indonesia.

However, PT Modern Internasional's first quarter results for 2017 revealed that 7-Eleven stores incurred a a 37.17 per cent decline in total sales.

Meanwhile, Indonesian Trade Minister Enggartiasto Lukita denied allegations that the shutdown in 7-Eleven's operations displayed weakness in the Indonesian retail sector as many other 24-hour retail outlets were still operating as usual.

He said the shut down was due to internal problems and the losses experienced by the company.

Enggartiasto said he would meet the management to obtain more information on the closure of the franchise outlets.

-- BERNAMA