A Trần Anh Digital World store. The company was acquired by Mobile World Investment Corporation in January 2018. — Photo 24h.com.vn

HÀ NỘI — The management board of Trần Anh Digital World JSC has approved a plan to terminate all its branches, which will be carried by the company’s chairman, ndh.vn reported.

According to the resolution of the company’s 2019 annual shareholders’ meeting, general director and legal representative Võ Hà Trung Tín resigned and Đặng Hoàng Anh Chiến was appointed the new general director.

Trần Anh Digital was acquired by Mobile World Investment Corporation in January 2018, one of the biggest acquisition deals last year. At the time of the purchase, Trần Anh was a big electronics retailer with 34 markets nationwide.

In July, Mobile World Investment owned 99.3 per cent of the company’s capital and Trần Anh became a trademark of Điện Máy Xanh, an electronics store chain of Mobile World Investment.

From October 2018, the company terminated its business activity on Facebook and its official website has been transferred to the homepage of Điện Máy Xanh.

After being acquired, Trần Anh Digital continued to incur losses but its losses decreased from VNĐ63 billion (US$2.7 million) in 2017 to more than VNĐ4 billion from April-December 2018, according to the company’s audited financial statement.

It sold all assets and inventories to Mobile World Investment and only leased its retail space, offices and brand name.

In 2019, the company will continue leasing retail space, co-operate with Mobile World and other third parties and franchise its Trần Anh brand name to collect rental fees.

It has set a goal to have net revenue of VNĐ150 billion and pre-tax profit of VNĐ6 billion by the end of this year. —VNS