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Greek apparel retailer Sprider withdraws from Romania
01 Aug '12
1 min read
Following its plans to withdraw from Romania, Greek clothing retailer Sprider has sold its Romanian subsidiary for € 640,000.
The purchaser, Naqua Investments, is a Cyprus-based conglomerate, with specialization in clothing retail in the Eastern Europe region. The buyer accepted to take over the three million euro acquisition plan by Sprider Stores in Romania.
At a turnover of € 5.9 million, Sprider Stores Romania incurred a loss of € 3.2 million during last year.
According to Sprider’s website, it owns stores in 13 cities in Romania and has four units in Bucharest.
During August 2011, the retailer announced investment of € 20 million, the first since its penetration in the market in 2007.
Sprider Stores offer complete clothing solutions for the entire family and has active presence in Greek, Bulgarian, Poland and Cyprus markets.
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