El Pais: Zara owner decides to permanently close 269 stores in Russia

El Pais: Zara owner decides to permanently close 269 stores in Russia


The Spanish company Inditex (owns the brands Zara, Bershka, Pull&Bear, Oysho, Stradivarius) has decided to permanently close 269 out of 514 stores in Russia, whose work was suspended in March 2022. The remaining stores are owned by the new owner of the retailer's Russian business and will be able to continue operating.

"Inditex confirms the closure of the remaining 269 stores after the suspension of activities in Russia on March 5 last year," writes the Spanish newspaper El Pais referring to a company representative, specifying that all the premises in which the retailer's stores were located were leased from Inditex.

Inditex had about 500 stores in Russia, which employed more than 9 thousand people, in March 2022 the company's management decided to temporarily suspend operations in the Russian Federation, considering it impossible to "ensure the continuity of operations."

The Spanish company in the fall of 2022 reached an agreement to sell most of its business to the Lebanese holding Daher Group. However, in order to finalize the transaction, it is necessary to obtain the consent of the government commission, such a decision has not yet been made.

The fact that Daher Group can open stores under its brands in the spring, spoke sources of "Kommersant" in the market. According to them, one of the first will be a point in the Moscow shopping center "Aviapark" under the sign of Maag.

Read more about this in the publication "Kommersant" "Zara will try on a replacement".

Alexander Kislov



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