Electro World may be forced to close stores

Electro World may close even three stores from the existing thirteen – reports Világgazdaság.

The network has tens of millions debts. According to Polgár Csaba, the CEO of the company; they miscalculated themselves. When they took the company over from the British Dixons in May 2009, they thought that they will be able to quickly eliminate the loss, making it easy to obtain finance. By contrast, Electro World was operating without credit insurance and bank financing until the end of last year.