PT Matahari Department Store Tbk (LPPF), a major player in Indonesian retail, is planning to close eight of its department store locations. This decision comes amidst reports of weakened consumer purchasing power and a challenging overall environment for retailers in the country.

The news was confirmed by the Chairperson of the Indonesian Employers Association (Apindo), Shinta Kamdani, who stated, “Yes, that’s right. So this retail too,” when speaking to reporters at City Hall, Jakarta, on Tuesday (5/27/2025).

“If we look at Ramadan yesterday, the demand is vrey low, meaning compared to previous years,” – Shinta Kamdani, Chairperson of Apindo

according to Shinta, the planned closures reflect the impact of reduced consumer spending.She also noted that retail demand during the recent Ramadan period was notably lower compared to previous years.

While Shinta Kamdani did not specify the exact locations or timeline for the closures, the announcement underscores the ongoing difficulties faced by retailers in adapting to changing consumer habits and economic pressures.

As of now, Matahari Department Store has not released an official statement regarding the planned closures.