Due to the recent fire, Metro Retail Stores Group, Inc. (MRSGI) announced the temporary closure of the Metro Department Store and Supermarket located at Ayala Center Cebu. MRSGI has yet to fully assess the damages incurred and the impact on its financials. MRSGI maintains adequate insurance cover, as such, it expects to eventually recover the losses in due course. Backed by a strong balance sheet and adequate capital, MRSGI has initiated the process of recovery and rebuilding. Moreover, the incident will not hamper operations of MRSGI's other 50 stores nationwide, as well as its existing relationships with suppliers and key stakeholders. MRSGI also remains committed to its expansion program in 2018 and beyond.