Paterson Latest Retailer To Withdraw From Market

July 2008 | Company News Alert

Russian retailer Paterson has sold its small Ukrainian store network to local operator Eko Company, which runs the Eko supermarket chain, following its decision to withdraw from the market. Eko operates a network of 53 supermarkets across 15 regions and plans on rebranding the Paterson stores under its own banner. Paterson had entered the Ukrainian mass grocery retail (MGR) market in 2005 and managed to establish a network of three supermarkets in Kiev. However, the company soon put its expansion plans on hold after recording disappointing sales and confronting significant red tape in its attempts to acquire new properties. Paterson's

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