Suddenly, a large chain of stores went bankrupt. It ends badly. His stores will be taken over by another

It might appear that large retail chains have an unshakeable position on the Czech market. After all, they sell the most important thing people need, which is food and other everyday consumer goods. In addition, they have now been able to increase their margins as a result of rising prices and, according to some estimates, are counting record profits. The Czechs haven’t stopped shopping yet.

It just went out

Apparently, though, this doesn’t apply to all stores, as some have already been hit by the full force of the problems. The popular British chain Iceland literally went bankrupt in the Czech Republic because it could no longer fulfill its obligations to its suppliers and was running into high debts.

Such a wild end probably came due to the fact that British Iceland some time ago gave up the license to operate the store to a Czech company, which however did not stop. The stores had problems with supplies and people started complaining about all kinds of things.

Subsequently, the chain began to collapse without explanation. Some shops remained closed, others sold out, and the recently launched e-shop also stopped working. Eventually, it turned out that all the shops in Czech Iceland just went out and that was the end.

Very fast expansion

But apparently, some places are quite profitable, so other chains take them. For example, a few days ago a Penny Market opened in the Štěrboholy Retail Park in Prague. The same shop also took over a shop in Galeria Luka in Prague 5.

Penny Market has recently expanded very quickly and has opened more and more stores. While chain brands may have declined, it doesn’t appear that this should be reflected in the number of stores. Quite the opposite.

Photo: Shutterstock

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