Poland: Invest promises restructuring Mega Avans

13-01-2005, 12:03

Warsaw (Puls Biznesu) – Invest, the new owner of Mega Avans, the indebted retailer with two huge shops with RTV and home appliances products, has finally published its strategy for the company. In an announcement, Invest said it was an ‘indirect investor, whose task is to cure the company, then to develop it and find stabile investment capital for further development’. Jakub Zoltowski, Mega Avans new CEO said that restructuring process is going on in Mega Avans. If the process succeeds, a third store will be opened this year. Then, with the new capital, further three shops should be launched.

It may be extremely difficult to save Mega Avans because the company had lost the credibility. At least three deliverers have filed a suit against the company. ‘Who will deliver the equipment to them unless they pay in cash?’, Marcin Nadgrodkiewicz, the owner of The Hi-End distributing Hitachi and Amtech said. Also Dariusz Przadka, deputy CEO of Audio Klan distributing Yamaha equipment, said that Mega Avans was too weak to compete with Western retailers.


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Puls Inwestora / Poland: Invest promises restructuring Mega Avans