All Russian OBI stores to reopen until end of May holidays

MOSCOW, Apr 26 (PRIME) -- All Russian hypermarkets of German home improvement supplies retailer OBI will reopen until the end of the May holidays, the company’s local press office said in a statement on Tuesday.

“They will be opened gradually: the Moscow and St. Petersburg stores should reopen by May 1… and all 27 OBI hypermarkets (in Russia) will restart operations by May 11,” the company said.

Industry and Trade Minister Denis Manturov told reporters that the reopening of OBI stores is “a positive signal” for the foreign businesses that work in Russia.

“This event is a positive signal for the market and for the other foreign businesses. The case of OBI can be called a good example of a civilized solution for further work of the Russian companies with foreign ownership,” he said.

In March, OBI said it would close its stores and fully stop operations in Russia. Earlier in April, OBI were reported to sell its Russian business to a local buyer. Kommersant business daily reported that subsidiaries of Kazakh holding Asadel, the owner of OBI franchisee stores in Kazakhstan, were a contender for the assets.

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