Select Honda, Isuzu outlets to shut down

Published June 01, 2020 02:29 PM By JON VIKTOR D. CABUENAS,GMA News

Yuchengco-led House of Investments is set to close five car dealership outlets in Metro Manila this week, which the company said would "ensure overall greater efficiency."

In a regulatory filing, the company said the units to be closed effective June 2, 2020 include Honda Fairview, Honda Marikina, Honda Marcos Highway, Honda Kalookan, and Isuzu Greenhills.

"The company conducted a careful and thorough assessment of its car business organization, dealerships, and the needed manpower, machines, and processes," it said.

In line with the closure, House of Investments said it will implement a redundancy program on its workforce moving forward.

House of Investments is the holding firm for the businesses of the Yuchengco group, with interests in car dealership, construction, education, and project and property management.

Its portfolio investments are in pharmaceuticals, energy, afterlife services, and consumer finance.

Shares of the company closed Monday at P3.25 apiece, unchanged from last Friday.—AOL, GMA News
 

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