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2 clusters · 5 sources · 2 days · First seen · Last updated

Mere retail group European closures

Overview

The Russian-backed discount retail chain Mere and its brand Basket Plus are experiencing widespread closures across Europe, including Hungary, Slovakia, the Czech Republic, Lithuania, and Latvia. While some closures are attributed to technical issues, the shutdowns coincide with European Union sanctions against Sergey Schneider, an owner of the group. In the Czech Republic, authorities have frozen shares of the local network.

In Latvia, the closure of the Mere chain has resulted in approximately 1.52 million euros in assets being frozen, affecting Latvian merchants and wholesalers. The crisis has led to significant food waste as perishable goods cannot be donated due to administrative restrictions, and employees have reportedly not received wages. The Latvian Traders Association is currently negotiating with government services to establish a ‘force majeure’ regime to return safe food products to the market and expedite payments to suppliers and staff.

Entities

Mere · Latvian Traders Association · European Union · Sergey Schneider · Basket Plus

Timeline

  1. 18 days ago

    [BUSINESS] 2 sources
    Mere retail group faces widespread European closures

    Russian-backed retailer Mere and its brand Basket Plus are suspending operations across Hungary, Slovakia, and the Baltics amid EU sanctions targeting owner Sergey Schneider.

  2. 19 days ago

    [BUSINESS] 3 sources
    Mere grocery chain crisis leaves 1.52 million euros in assets frozen

    The closure of the Mere grocery chain in Latvia has frozen 1.52 million euros in assets, causing significant food waste and unpaid wages for employees.

Sources

bnn-news.com · brivbridis.lv · friendshelpingfriends.org · jauns.lv · nlcafe.hu