Mar '10
”The divestment of operations in Norway is regrettable but is simultaneously essential to our efforts to ensure that the New Hemtex takes shape. Hemtex is implementing a renewal program aimed at achieving a more distinct direction in the form of a new store concept and a more up-to-date range. The decision about Norway means that the process involving the Group's international strategy has now been completed,” says Erik Gumabon, Hemtex's President and Chief Executive Officer.
A responsible divestment of the store portfolio entails that Hemtex will fulfill all concluded agreements and live up to the rigorous demands of an employee in terms of providing
information, as well as obligations in relation to employees and partners. Negotiations regarding leases for premises will be initiated immediately and the impending divestment will be implemented as this process progresses.
Hemtex has a total of ten stores in Norway, with 75 employees. The loss incurred in Norway in 2009 amounted to SEK 32 M.
Hemtex AB
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