Jun 21, 2022 08:56 PM

BUSINESS

Property Agency 5I5J Cuts Regional Business Amid Sales Drought

By Niu Mujiangqu and Manyun Zou

Photo taken on April 27 shows a 5I5J store in Beijing. Photo: VCG

Photo taken on April 27 shows a 5I5J store in Beijing. Photo: VCG

Real estate brokerage giant 5I5J Holding Group Co. Ltd. (000560.SZ) has decided to quit a provincial capital city in East China after months of declining sales, Caixin has learned, sparking protests by its local franchisees.

A source at 5I5J said that the company is exiting Hefei, Anhui province’s capital, closing not just its franchised offices but all self-operated outlets too.

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