Economy
SPAR plans to close several stores in Hungary on the low low
SPAR plans to close as many stores over the next few weeks or months as it did over the last four years. The company neither confirmed, nor denied the report, but citing cost-efficiency aspects its said stores will not only be closed but opened on new locations. The company’s communications chief denied there are preparations for mass closures.
Company sources told the portal employees of the affected stores have not been notified yet and that SPAR wants to keep a low profile on this one. The stores are to be shut for refurbishment but they will never reopen, the sources said. SPAR said conclusions on the Sunday shopping ban may be drawn only after a few months.
SPAR also plans to open three new supermarkets in Budapest and the authorisation procedure for another five is in progress too. SPAR is building its franchise, along with the inclusion of independent operators.Cost-cutting intentions at Hungary’s food retail chains are already visible, local business daily Világgazdaság reported on Wednesday, citing information provided by the National Trade Association. Tesco has announced this Monday the closure of 13 stores and the related layoff of more than 500 employees. The overview of the paper projects that some of the players could follow suit.
Company sources told the portal employees of the affected stores have not been notified yet and that SPAR wants to keep a low profile on this one. The stores are to be shut for refurbishment but they will never reopen, the sources said. SPAR said conclusions on the Sunday shopping ban may be drawn only after a few months.
SPAR also plans to open three new supermarkets in Budapest and the authorisation procedure for another five is in progress too. SPAR is building its franchise, along with the inclusion of independent operators.Cost-cutting intentions at Hungary’s food retail chains are already visible, local business daily Világgazdaság reported on Wednesday, citing information provided by the National Trade Association. Tesco has announced this Monday the closure of 13 stores and the related layoff of more than 500 employees. The overview of the paper projects that some of the players could follow suit.
