Electro World may survive on a smaller base area

Currently the group is negotiating with a foreign investor. Electro World may survive transformed and in stores that have smaller base area – said Nagy Károly András chief executive officer to MTI on Friday.

The group has become insolvent, because the English investors pulled out and a drop occurred in turnover, due to the crisis.The brand itself is worth enough to attract buyers and the building of a new brand  name is costly and can take years – added the CEO.

In the new concept, a store can be no more than one thousand square meters in Budapest, and a few hundred square meters in rural cities. A larger area can not be paid from the turnover – reports MTI.