Bali retail chain popular with expats goes under

[dafluff]

Image credit: hardyssanur.wordpress.com


The Hardys retail chain, popular with expats in Bali, has been declared insolvent. The declaration was read in Surabaya's State Court (Pengadilan Negeri) on November 9th 2017, case number 29/Pdt.Sus-PKPU/2017/PN SBY. Along with the retail chain, PT Hardys Retailindo, PT Grup Hardys and owner I Gede Agus Hardiawan are declared pailit, (from the French word faillite, or insolvent). The court also assigned curators (liquidator) to oversee the liquidation.

Besides the retail business, Grup Hardys expanded into banking, advertising, real estate, hospitality among other sectors. This rapid and seemingly chaotic expansion could have contributed to the insolvency.

As someone who frequently shops at Hardys supermarket, the last year already showed signs that the chain was in financial trouble. Entire sections of the supermarket would be out of stock, with employees saying that suppliers are not sending goods. The only reason for this would be that suppliers weren't getting paid. This announcement just confirms what I feared.

I hope the best for the 3800 employees of the company. Under Indonesian law, employees are the first stakeholder to be reimbursed in the event of insolvency. Creditors have until November 30th 2017 to register their claim.



https://baliberkarya.com/index.php/...n-Grup-Hardys-Akhirnya-Dinyatakan-Pailit.html

 

[Puspawarna]

It's a shame for all those employees.

Will you be inconvenienced much by the closing, dafluff?

(And any other forum members residing in Bali ... will this be a problem for you?)

 

[Jaime C]

I always enjoyed going to the Hardy’s in Sanur and the other a bit away from the airport. Seems they tried doing too many different businesses.

 

[Scooterindo]

When we first moved to Bali we used Hardys as we used to live in Sanur but my wife soon learned that there were local super markets offering the same products (or local alternatives) much much cheaper. Hardys tended to be very over priced and exploited the fact a lot of expat couples (not mixed) were worried about stepping out of their comfort/safe zone. Even the Hardys in Renon is noticeably cheaper than the one in Sanur because its considered to be a locals supermarket.

 

[dafluff]

It's a shame for all those employees.

Will you be inconvenienced much by the closing, dafluff?

(And any other forum members residing in Bali ... will this be a problem for you?)

Actually the Hardys nearest to me shut down about a year ago. I believe the one in Sanur has been sold off to a different company. So they may keep it running, even though last time I was there it also suffered from the chronic out of stock issues.

While I miss the convenience of having one right near me, I usually do my shopping elsewhere. I agree with @Scooterindo that they tend to be overpriced. Not as bad as Carrefour, but definitely more expensive than local options.

 

[Vanhelsing]

Besides the retail business, Grup Hardys expanded into banking, advertising, real estate, hospitality among other sectors. This rapid and seemingly chaotic expansion could have contributed to the insolvency.

I've used Hardys a couple of times in Sanur and would support the above statement as I can't conceive of the company not being profitable based on the cost of items in their stores. A man did need his olives, however.

 

[Balifrog]

Was in the one.in Sanur yesterday, and noted a lot of empty spaces, and lack of resupply. Maybe an issue of suppliers not delivering anymore (except cash payment) following the BR declaration ?
For us the sumermarket is handy but not vital, I liked the 1st fl artifact section, at least you have clear prices instead of needing to haggle in other "souvenir" shops.
We do a run on Carrefour in Kuta every 2 weeks, more choice, but not enough French stuff....

 

[waarmstrong]

I am wondering what items qualify as "French stuff."

 

[Asun]

I am wondering what items qualify as "French stuff."

French fries? Dijon mustard?

 

[Pak Tani]

A white flag?

 

[dafluff]

Was in the one.in Sanur yesterday, and noted a lot of empty spaces, and lack of resupply. Maybe an issue of suppliers not delivering anymore (except cash payment) following the BR declaration ?
For us the sumermarket is handy but not vital, I liked the 1st fl artifact section, at least you have clear prices instead of needing to haggle in other "souvenir" shops.
We do a run on Carrefour in Kuta every 2 weeks, more choice, but not enough French stuff....

Hardy sold off its best performing supermarkets to one of his relatives, so that's who "owns" the Sanur branch. Judging by the state of the store, I don't know that it will last that long either.

Carrefour in Indonesia is no longer part of the French multinational chain, and it shows in the quality of products. What they do have is the highest price (by a lot), even when compared to other chains marketing to foreigners, such as Papaya and Pepito. Off hand example: Elle and Vrie Whipped cream they sell for about Rp 120k, where Pepaya or Pepito will sell for Rp 105k ish, and local supermarkets for Rp 95k. That pattern of pricing pretty much holds up for all products.

 

[snpark]

Ranch Market in Oakwood closed yesterday but the sign says will reopen in March which seems a very very long time to refurbish a small grocery store? Big loss for everyone in Oakwood and many staff who used to eat there daily

 

[Balifrog]

Thanks Dafluff, newbie still in the."exploration" stage.
Yep, I am aware Carrefour sold their stakes in several Asean countries to cover for a big financial hole elsewhere.
It is rather expensive, but has the advantage to offer everything under one roof, concept very popular in France with the hypermarket chains.
Will look out for those Papaya and Pepito stores...

 

[scouser59]

Carrfor / transmart is now an indo focussed supermarket , with now limited stocks of imported foods at "rip off " prices hypermart is substantially cheaper for imported goods ,if you want a complete range "grand lucky" on sunset road near the denpasar turnoff is the place to go , .
The only thing "french" about carrefor these days is the bakery manager who was kept on after the takever by transmart .

 

[Balifrog]

Thanks Scouser !
Heard about Grand Lucky on another tread (or other forum), as I have to go to Kuta tmrw, we'll check it out.
Carrefour bakery is till now the only place where I found decent baguette.

 

[atlantis]

Carrfor / transmart is now an indo focussed supermarket

In the initial MoU signed between Carrefour and Chairul Tanjung, it was agreed that Transmart would be authorized to use the name Carrefour for 5 years after having acquired 100% of the shares. This happened in 2012 and therefore at the end of 2017 all stores should have dropped the name Carrefour already. I guess they will do it "soon" unless if Chairul Tanjung, after having in numerous occasion claimed that it was Carrefour which came to him rather than him who came to them, has understood how a powerful marketing asset the brand name is.

 

[Balifrog]

Was.in Grand Lucky yesterday, good choice and better prices than Carrefour for sure.

 

[ChrisD]

Agreed Balifrog.

We always do our main weekly shop at Grand Lucky.

There are some things Carrefour are better at (bread section as mentioned previously).

But Grand Lucky also often have home made bread & butter pudding for about 25,000 for 3 or 4 serves. Goes great with ice cream Keeps us expat poms happy.

 

[scouser59]

Was.in Grand Lucky yesterday, good choice and better prices than Carrefour for sure.

cool !

 

[Anglian]

The last time my wife went shopping at Carrefour Lebak Bulas, she bought two bunches of Bayerm, only two thou each, shock horror when she got him to cook it, somebody had in each bunch cut the leaves off some heads, so it was half stalks, the time and effort which had gone into that didn’t appear very worth while, we haven’t been back since, all shopping now done at Grand Lucky, Radio Dalam, suits are needs, occasionally pop into Ranch Market, PI