Mere closure leaves suppliers with million-euro losses and spoiled goods
The closure of the Mere retail chain over European sanctions has caused Latvian suppliers millions in losses, as goods sat stuck in store warehouses for two weeks. The Financial Intelligence Service has now allowed suppliers to retrieve products without lengthy approval, though this does not solve all problems.
The shutdown of the Mere retail chain due to European Union sanctions has hit Latvian goods suppliers hard. For two weeks, producers had no information about the fate of their products, which remained stuck in the chain's store warehouses, according to the LSM program "Обсудим вечером".
During that period, some of the goods spoiled, causing direct losses to suppliers, while the industry's overall financial losses are estimated in the millions of euros.
Situation starts to shift
A day before the program aired, Latvia's Financial Intelligence Service granted suppliers permission to retrieve their products from Mere stores without a complicated additional approval process. This step is seen as a relief, but it does not resolve all the problems facing the affected businesses.
The question of how suppliers will be compensated for losses already incurred from spoiled goods and long-frozen funds remains open for now.
