Sportmaster Group of Companies is forced to close its Go Sport retail chain in Poland due to sanctions imposed by Warsaw on the company in connection with Russia's special operation in Ukraine. Entering the Polish market and launching its own retail three years ago cost the company an estimated amount of about 40 million euros, writes Kommersant.
With the imposition of sanctions, all retailer accounts in Poland were immediately blocked, 25 points of sale and the online store stopped working. The parent structure of Sportmaster is Sportmaster Operations Ltd, registered in Singapore. The company tried to sell Go Sport to the structure of the British Sport Direct, but the deal never took place. According to the Polish publication Puls Biznesu, the chain has already filed for bankruptcy.
Other Russian companies developing business in European countries also fell under Polish and European sanctions, including the Wildberries online retailer, which ceased operations in the EU.
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