Media-Saturn closes shop in Greece with immediate effect-- shutting down 2 big Greek Saturn outlets at Larissa Station (central Athens) and Pylaia (Thessaloniki), the Greek newspaper Kathimerini reports.
The retailer will also pass 3 Saturn stores to sister chain Media Markt-- even if Media Markt is also shutting down an outlet in southern Athens.
The Media-Saturn venture in Greece left little profit for the Metro group-- with turnovers dropping by -25% Y-o-Y within 2 years, making the Saturn departure fairly predictable.
The April-June 2011 period had Metro reporting revenue losses totalling -€44M in comparison to the same period in 2010, as CE demand declines further.
Go Saturn Leaves Greek Electrical Goods Market (ekathimerini.com)
