Rimi Baltic Forced To Cut Costs

Leading Balkan region-based mass grocery retail (MGR) operator Rimi Baltic has played down suggestions that it will trim its store hours in Latvia in response to weakening demand, as the global financial meltdown brings the Balkan region to its knees (BMI has forecast Latvia's GDP to contract by a jaw-dropping 14.5% in 2009). Earlier in June 2009, Rimi's Estonian subsidiary cut down its store hours to reduce costs. The retail also has a presence in Lithuania and operates 241 stores across all three markets.

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