The Czech market has long been considered very lucrative. In recent years, it has managed to attract one interesting brand after another. These then increased local competition and overall improved the environment. At the same time, they allowed the Czech customer to taste or try things that were forbidden to him until now.
At first it was a great success
At the same time, one of the biggest successes was celebrated by the Iceland store chain a few years ago when it entered the Czech market. His offer of frozen food obviously appealed to the Czech Republic, especially when it came to products that were not very available here until then, because they were linked almost exclusively to the British market, which is somewhat specific after all and offers different things than most of the European ones.
Iceland managed to expand very quickly and set up stores in exposed places where people used to go. It increasingly represented competition for other food retailers, such as Albert or Lidl. It could be said that he had a very good foothold, and despite the fact that until then there was talk about how much the Czech market was saturated, this business managed to gain ground.
Over time, however, the local operations of Iceland were taken over by a Czech company, which continued to use the already well-known name and also imported products from Great Britain. But as it turned out, it was not exactly the luckiest choice, because under this leadership Iceland suddenly stopped doing well.
Then came a quick end
He suddenly started closing some stores without informing customers about it on the website, for example. Significant parts of the assortment were then missing in other stores. Finally, the popular e-shop also stopped working.
And then it became clear why this happens. The Czech operator racked up really big debts in the tens of millions of crowns, which he was no longer able to repay, and thus had to declare insolvency. Iceland went bankrupt in the Czech Republic very badly.
Unfortunately, no one was found to take over the Iceland brand and stores in the Czech Republic, so it ends here for good. Customers who used to come here are understandably dissatisfied, because they practically have no chance to find a replacement.
Foto: Shutterstock
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