PRESS: Russian Retailer Alye Parusa to close all outlets

MOSCOW, Dec 2 (PRIME) -- Russian premium grocery retailer Alye Parusa owned by businessman Maxim Blazhko is closing all stores, business daily Kommersant reported on Wednesday citing sources on the market of commercial real estate.

The retailer’s problems started in 2014 during the ruble devaluation and a food embargo, according to Yevgenia Khakberdiyeva, director of the commercial real estate department of Knight Frank.

A investment source said that Perekryostok, a retail chain owned by X5 Retail, will rent several outlets from Alye Parusa. The fate of Moscow landmark Yeliseyevsky department store opened in 1901 and now owned by Alye Parusa is unclear. 

End %%mk/jst%%