X5 Retail confirms closes inefficient Perekrestok Express stores

MOSCOW, May 21 (PRIME) -- X5 Retail Group continues to close inefficient Perekrestok Express stores and is looking for buyers for remaining stores, a representative of the group told PRIME on Monday confirming media reports.

“Active optimization of the chain continues, during which inefficient stores are being closed and a buyer for remaining assets is being searched,” the representative said.

In October 2017, X5 Retail announced intention to sell its Perekrestok Express chain and focus on its Pyaterochka, Perekrestok, and Karusel stores. Kommersant business daily reported that the group failed to find buyers for the chain.

Perekrestok Express chain comprised 170 stores as of late September 2017 and 138 stores as of late March of this year.

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