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ST. PETERSBURG RETAILER 220 VOLT IS ON THE VERGE OF BANKRUPTCY

... North-West applied to the court for its own bankruptcy. The St. Petersburg franchise chain of electric tool stores may become bankrupt due to numerous lawsuits. At the moment, the amount of claims against the debtor is more than 2.2 billion rubles. The retailer's problems began this year, when more than 200 lawsuits were filed against the holding companies at a price of over 1.5 billion rubles. These problems are connected, apparently, with anti-Russian sanctions, which caused difficulties with the ...

British retailer Marks & Spencer may leave French market

International retail chain Marks & Spencer (M&S), which was forced to incur losses in the EU, announced the possibility of changing its policy in France last Sunday. New trading rules that have been introduced as a result of Brexit are ruining businesses and creating ...

WILDBERRIES ONLINE RETAILER LAUNCHES IN THE USA

Wildberries, the largest online retailer in Russia, launches sales in the United States. For these purposes, a special application was developed, as well as a separate online store. So far, among the offered products, there will be no goods from America, and the sold range will be ...

US RETAILERS BREAK BANKRUPTCY RECORDS

MarketWatch, an online media specializing in financial issues, has released data on the record number of bankruptcies that marked the outgoing year 2020 in the United States. According to the media, the number of retail companies filing for bankruptcy this year has exceeded the figures of the last ten years. At the same time, experts believe that it is not worth hoping for an improvement in the situation in the nearest future. Since the global financial crisis ...

+1 MARKETPLACE. MAGNIT BUYS KAZANEXPRESS ONLINE STORE

... to create its own online trading platform "Magnet-Market". The value of the transaction is currently unknown. KazanExpess is on the list of the 30 most expensive Russian Internet companies, according to Forbes. A message appeared on the retailer's website that Magnit had come to an agreement with Kazan Express to purchase 100% of the latter. The trading network will progressively outbid the shares of all co-owners. On the basis of the company being bought out, Magnit will create its ...

Discounts and special offers on goods return to Russia

... competitiveness of the seller. In the salons of "MTS" and "MegaFon" prices have also been reduced. Earlier, sellers recorded a decline in consumer demand, which could lead to reconsideration of the cost of goods. As for large grocery retailers, changes are also planned in this area. “X5 Group” and “Magnit”have already sent letters to suppliers with a proposal to reduce purchase prices, Izvestia reports . In both cases, the reason is the stabilization of the ruble exchange rate. The ...

April Fools' lawsuits: why the Musatovs made a decision to drive the subsidiary of Auchan to bankruptcy

... turn out to be an April Fool's hoax. We should remind our readers that that Atak LLC is a subsidiary of Auchan in Russia, which also manages the Leroy Merlin and Decathlon brands. Hypermarket chains are part of the French group of companies Auchan Retail, owned by the Mullier family. Represented in 17 countries, the company has been operating in Russia since August 28, 2002 and, according to the statement made earlier, is not going anywhere. At the end of 2015, AUCHAN united four retail formats,...

Escada has filed for bankruptcy of its US subsidiary

A well-known brand of women's clothing and perfumery from Germany appealed to the court of America, having taken the advantage of the provisions of Chapter 11 of the Bankruptcy Code, and declared the insolvency of its North American branch Escada America. The reason for the bankruptcy of the company was a pandemic and difficult negotiations with landlords to reduce rental payments. It is noted that during the process of litigation, many of the company's debts can be challenged. The company's largest...

Say goodbye to Kiabi: Mulier family closes business in Russia

The Kiabi store chain, which is owned by the Mulier family, will leave the Russian market by July next year. French entrepreneurs, who also own retail brands Auchan, Leroy Merlin and Decathlon, said they could not find the right model for running a clothing business here. For several years in a row, the Kiabi brand has remained unprofitable in the Russian Federation. According to RBC, in the ...

Experts predict liquidation of 20% of clothing stores in Russia

... Instead of a trend to have a large wardrobe, which was actively shaped by advertising in the recent past, citizens increasingly began to pay attention to the environment and buy more durable clothes. This may lead to a gradual reduction of one fifth of retail outlets, say the experts. Bazhenov associates the change in the clothing market not only with the current situation, but also with the change in fashion trends. More and more brands are beginning to take a more responsible attitude towards environmental ...

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