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Metrika, only recently one of the market leaders in Russia, has to close its DIY stores in Saint Petersburg. Seven branches in the north of the city, where the development of the chain started out, are on the verge of closure or have already closed. Within the past 18 months the entire branch network has shrunk from 100 to 40 stores.
According to the market research company Infoline, Metrika's sales in 2015 sank from RUB 11.7 bn in 2014 to RUB 4 bn. In 2015 insolvency proceedings, which were started by suppliers, were able to be prevented by a buyout of debt. However since the start of 2016, according to industry experts, payment difficulties have cumulated once again. It is said that Metrika's new owners, two entrepreneurs and co-owners of Alta, a management company for commercial real estate, wish to compensate for this by selling the stores and land. An auction of a branch with more than 14 000 m² and a five ha plot of land, which was planned for 5 September with an opening bid of RUB 685 million, has now been postponed for the time being.
Metrika still has over 33 branches in the northwest of the Russian Federation and in the Tversk area.
According to the market research company Infoline, Metrika's sales in 2015 sank from RUB 11.7 bn in 2014 to RUB 4 bn. In 2015 insolvency proceedings, which were started by suppliers, were able to be prevented by a buyout of debt. However since the start of 2016, according to industry experts, payment difficulties have cumulated once again. It is said that Metrika's new owners, two entrepreneurs and co-owners of Alta, a management company for commercial real estate, wish to compensate for this by selling the stores and land. An auction of a branch with more than 14 000 m² and a five ha plot of land, which was planned for 5 September with an opening bid of RUB 685 million, has now been postponed for the time being.
Metrika still has over 33 branches in the northwest of the Russian Federation and in the Tversk area.
