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BluInc Malaysia, Publisher of Harper’s Bazaar, CLEO & Others Closes Down, Over 200 Staff Laid Off

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Source: Gramedia & Grammedia

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The increasingly difficult business landscape in Malaysia during the Covid-19 pandemic has claimed yet another victim from the business world, as BluInc Malaysia, the largest publishing house in the country, closes down. According to Campaign Asia, the news was delivered through an internal memo that Campaign Asia managed to obtain.

 

For those who are unfamiliar with the brand, BluInc Malaysia was the largest publishing house in the country, in charge of releasing some of the most well-known magazine titles including Harper’s Bazaar Malaysia, CLEO Malaysia, Cosmopolitan, Home & Decor, as well as many others.

Founded in 1974, the business has folded after 46 years due to significant losses and pressure it faced in an increasingly digitalised industry.

“We are in a period where there is little visibility on when we can see recovery from the economic turmoil resulting from the COVID-19 pandemic. Our business has already been under tremendous challenge from digital disruption over the past few years.

With the current Movement Control Order (MCO) to contain COVID-19, the losses continued for the months of March and April and this trend is expected to continue for the next few months. It is uncertain if we will be able to see any light at the end of the tunnel.”

Over 200 members of staff are expected to be affected as a result of their business shuttering its doors for good from today onwards.

What do you guys think of this development? 

 

Also read: After 25 Years, ESPRIT Will Be Closing Down ALL Malaysian Stores By End Of June

Source: Grammedia

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