Venue Retail Group, with brands like Accent, Rizzo and Morris, cuts deep in the business, 35 stores will be closed and the owners must add 132 million SEK.
Shoe stores in Sweden fell sharply in May, according to recent figures from Svensk Handel Stil. But the shoe chain Rizzo grew by eight percent in comparable units.
Venue Retail Group will close ten stores – a Norwegian Morris-store and nine Accent stores. ”It’s time for consolidation,” says CEO Christel Kinning.
Venue Retail Group’s total sales in July 2014 amounted to 75 MEK (72) and sales in comparable units decreased by 9 percent.