Marks & Spencer gives up its business in Romania, including the food retail | Progresiv
British retailer Marks & Spencer announces it will begin consultations with employees regarding the closing of the stores it operates in Romania, including two Marks & Spencer Food units that it operates in Plaza Romania and Mega Mall shopping centers. The announcement comes 16 years after the retailer entered the fashion market in Romania and less than two years after the inauguration of the first grocery store. 
"Given the comprehensive analysis of the international activity of the group, we conducted a thorough evaluation of our activity in Romania and opportunities for long-term growth for Marks & Spencer on the market. Our analysis showed that in the last five years we have had great difficulty in reaching breakeven and we can not continue our activity in Romania. It is never easy to propose changes affecting our employees and we will listen carefully to their views in the consultation on our proposals", said Jonathan Glenister, regional director for Europe, China and India within Marks & Spencer.
Along with the stores in Romania, Marks & Spencer proposes closing all 47 stores fully owned in China, France, Estonia, Hungary, Lithuania, Poland, Slovakia, the Netherlands and Belgium.
In Romania, the retailer operates six Marks & Spencer stores and two Markes & Spencer Food units. Last year the company reported a loss of about 2 million euros on a turnover of 7.2 million euros, according to data submitted to the Ministry of Finance.
