Russia’s largest supermarket chain Pyaterochka could lose up to $1m after it was after it was forced to close temporarily a large number of its shops in St. Petersburg, according to a report in the Vedomosti daily today (Thursday) quoted by Dow Jones newswires.
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The company closed 110 shops after over 50 of its workers were diagnosed with hepatitis, the paper said. Some of the shops remain closed and losses to the company could total between US$700,000 and $1 million, it added, citing retail analysts.
Pyaterochka said in April that it is planning an initial public offering on the London Stock Exchange.
