SAIGON CO.OP FOOD COMPANY LIMITED: A Retail Giant Facing Financial Headwinds

SAIGON CO.OP FOOD COMPANY LIMITED is a prominent player in Vietnam’s retail sector, specializing in the sale of food through a nationwide network of stores. Established on January 4, 2010, and registered under business ID and tax code 0309129418, the company operates as a one-member limited liability company. Its head office is located at Saigon Coop Tower, No. 131, Dien Bien Phu Street, Ward 15, Binh Thanh District, Ho Chi Minh City, Vietnam, and it is wholly owned by the Saigon Union of Trading Co-operatives, a well-known retail conglomerate.

The leadership team at SAIGON CO.OP FOOD COMPANY LIMITED includes Mr. Tran L. H. as Chairman and Ms. Pham N. A. H. as Director. The company employs approximately 1,900 staff across various branches in Ho Chi Minh City, including major retail outlets in District 1, District 6, and Thu Duc City.

In terms of financials, SAIGON CO.OP FOOD COMPANY LIMITED reported USD 130.95 million in sales in 2023, a decrease of 6.44% year-over-year. Total assets declined to USD 19.99 million, reflecting a 16.17% drop from the previous year. More critically, the company is facing deep financial challenges, with negative equity of USD 90.25 million and a net loss of USD 13.44 million for the same year—representing a 25.23% deterioration in profitability. Its working capital also remained significantly negative at USD -93.8 million, indicating liquidity pressure.

Despite these financial difficulties, SAIGON CO.OP FOOD COMPANY LIMITED remains active and continues to play a vital role in Vietnam’s food retail market. Its extensive network and backing by the Saigon Co.op group offer it resilience and potential for future restructuring or strategic turnaround. The company’s diverse operations extend beyond food retailing to include wholesale activities and retailing of household appliances, beverages, books, toys, and more—making it one of the most diversified retail entities in the region.

In summary, SAIGON CO.OP FOOD COMPANY LIMITED is a well-established enterprise with considerable market presence but currently grappling with serious financial stress. Close monitoring of its fiscal health and operational reforms will be essential for restoring long-term sustainability.