3rd October 2026 – (Hong Kong) Cheap Lab, the household goods and variety chain known for bargain pricing, announced on 2nd October that its Wan Chai flagship will cease operations when the lease expires in mid‑November after the company failed to reach agreement on renewed terms with the landlord. The retailer said it had “tried very hard” but could no longer shoulder the current rent, and will run a final‑month clearance with 30 per cent off for shoppers spending at least HK$100.
The chain currently counts 14 outlets, but four locations have closed since last year — in Tsuen Wan’s Chung On Street, Whampoa, North Point and Yuen Long — making Wan Chai the fifth to leave the market. Management said the previous lease was signed before the era of widespread “free shipping” on major e‑commerce platforms and described the past three years of trading as “brutal”, adding that the team had “held the line” as long as possible. The company has been searching nearby for a suitable replacement site, with no success so far, and expressed hope that this will be a temporary farewell rather than a permanent exit.
Over the past year, Cheap Lab said it integrated resources with Stationery Lo, broadened its product range and retooled operations to create more options for the store’s future. Despite those efforts, the business reiterated that current rent levels remain unsustainable.