Metro Cash&Carry closes store in Romania's Braila

The German retailer Metro Cash&Carry will close its store in Braila in March, due to “an optimization process.” The unit was opened in 2010, following an investment of EUR 15-20 million. The store covered 8,500 sqm, reports local Ziarul Financiar. One year earlier, the French retailer Carrefour closed its store in Braila. The unit is Braila is the first cash&carry store closed by Metro in Romania. The retailer had previously shut down another store. However, the unit was smaller and was operating under the Metro Punct brand. In 2014, Metro Cash&Carry Romania recorded its first losses in the last decade. They amounted to EUR 0.2 million. During the boom years, the profit reached almost EUR 67 million. The turnover also dropped, reaching EUR 1.01 billion in 2014. Metro, which was one of the first international chains that set foot in Romania in the ‘90s, has lost ground to competitors such as Kaufland in recent years . editor@romania-insider.com