Moody's: Lifestyle closure is negative

Moody's Investors Service said that the early termination of Lifestyle International Holdings Ltd.'s announced that the lease on its Tsim Sha Tsui SOGO department store in Hong Kong will be terminated early by the landlord, New World Development Co. Ltd., is credit negative.

New World plans to redevelop the property and has exercised an early termination option. Hence, the lease term available to Lifestyle will be shortened to February 2014 from the original September 2020, without any compensation.

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