The grocery industry also got a shock last year when Yaohan Japan, a 42- store chain, went bust.

FORBES: Upsetting the apple cart

That was the fate of Yaohan, which shortly before its demise sold 16 of its prize supermarkets in central Japan.

ECONOMIST: Japanese retailing

Yaohan owns 29% of the Whimsy amusement arcades, which reward winners with tickets that can be exchanged for toys and cheap electrical goods.

ECONOMIST: Run, run, run

On November 24th, a few days after the Japanese-owned Yaohan department store chain in Hong Kong went bust, word hit the streets that the St Honore Cake Shop chain was about to follow suit.

ECONOMIST: Run, run, run