Croatian supermarket chain Konzum will close between 80 and 100 stores in the country, with an as-yet undetermined number of employees set to be made redundant, reports Dnevnik.
The news was announced by the chairman of the board, Slavko Ledić, after a meeting with Antom Ramljak, the extraordinary commissioner for Konzum's parent company Agrokor.
Ledić said that the retailer closes some stores every year, taking into account the structure of the population. However, he added that the process this year will be more intensive because the profitability of the stores is in focus following Agrokor's recent financial issues.
Agrokor Progress
Ramljak said he believes that the toughest period for the retailer has passed, and that in the coming months all activities should be focused on improving the profitability of Konzum.
The monthly update from Agrokor's extraordinary commission was published yesterday, and noted that the €480 million loan that was signed earlier this month with Zagrebačka banka will ‘secure the ongoing business of Agrokor and its operational companies’ for the time being.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
