Victor Balashov, director of “Spar Retail” (retail chain Spar), leaves the company after eight months of work. According to the market experts, Mr. Balashov has difference in opinion with major shareholder of the chain – Alexander Mamut’s Fund A & NN Capital Management. Industry experts estimate the state of the “Spar Retail” as critical and recommend to declare bankrupt. Alexander Mamut owns 61% of “Spar Retail” (through A & NN Capital Management Fund), Russian Retail Growth Fund owns 36%, and Dmitry Maslov, ex-CEO of the company, has 3%.
Now there are 24 Spar stores. The main idea was to create an ideal supermarket for upper middle class, supermarkets were to occupy a vacant palce between the “Perekrestok” format and premium networks “Azbuka Vkusa” and “Globus Gourmet”. But the idea failed. According to some market analysts, although the revenue of the chain is 6.3 billion rubles, «Spar Retail» does not cost more than 2 billion rubles, without considering its debts, which are about 6 billion rubles.
Source: www.retailer.ru