Retail networks seek refinancing assistance from government
22 January 2009
Daily Kommersant reported today that the eight largest retail networks in Ukraine reported losses since Oct. 2008 of UAH 800 mln (USD 104 mln), prompting them to yesterday begin negotiations with the government for refinancing in the amount of UAH 2.8 bln (USD 363 mln). In return for assistance, retailers are reportedly offering to cap price increases on goods to 10%. The discussions have dealt with retailers Fozzy, Furshet (HZ21 GR), Velyka Kyshenya (RTGR), ATB-Market, Eko Market, Pakko (5CBA GR), O’Key, and Target.
