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General

Ceconomy looks at shop closures in Europe as coronavirus hits sales

Wednesday 5 August 2020 | 16:09 CET | News
Ceconomy, the owner of retailers Media Markt and Saturn, said it is thinking of closing loss-making shops across Europe as a consequence of the covid-19 pandemic. According to current plans, the potential measures could lead to savings of just over EUR 100 million per year. If a new operating model is implemented, a total of up to 3,500 full-time positions could be cut, mainly in other European countries. The company has not yet made any final decision regarding the plan, or its scope. It will decide on 12 August.

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Categories: General
Companies: Ceconomy
Countries: Europe / Germany
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