Greek clothing retailer Sprider will pull out of Romania, after selling its local subsidiary to Naqua Investments for EUR 640,000. The buyer is a Cyprus – based company specializing in clothing retail in the Eastern Europe region.

Sprider Stores Romania ended 2011 with a loss of EUR 3.2 million, at a turnover of EUR 5.9 million, according to data from the Finance Ministry.

The buyer agreed to take over the EUR 3 million acquisition plan by Sprider Stores in Romania. Sprider has stores in 13 Romanian cities, according to its website. In Bucharest, it has four units.

In August last year, the retailer announced investments of EUR 20 million since its market entry in 2007.

editor@romania-insider.com

(photo source: Sprider Stores)