Short Company profile

 

The Greek retail group Fourlis—which manages a portfolio of international brands in Southeast Europe, including INTERSPORT, Foot Locker, IKEA, and Holland & Barrett—is undertaking a major restructuring of its store network through the end of this year, with plans to close approximately 10 loss-making locations. Romania will be the most significantly affected market. At the same time, the group continues to invest in business development and is preparing new, smaller IKEA stores in Greece, according to local media outlet Money Buzz. This shift is part of a broader transformation aimed at optimizing Fourlis's physical store network and operational structure. The retail giant expects these measures to cut costs and improve financial results by approximately ˆ3.5 million annually starting in 2027. Two INTERSPORT stores in Romania and one IKEA store in Piraeus, Greece, have already been closed. The company notes that the process will affect locations across all its markets of operation, including Greece, Bulgaria, and Cyprus. The combined turnover of the stores slated for closure is estimated at between ˆ8 million and ˆ10 million. For the Bulgarian market, this restructuring does not automatically signal a retreat; on the contrary, Fourlis maintains a significant physical and digital presence. The company currently operates four physical IKEA stores and three order-and-pickup points in Bulgaria. Additionally, the group is developing the INTERSPORT and Foot Locker brands, making Bulgaria one of the markets where Fourlis operates multiple distinct international retail formats. Meanwhile, the retail giant is restructuring its business at a regional level. In August, Fourlis also announced the sale of its stake in Sofia South Ring Mall for ˆ49.35 million—a deal the company expects to enhance its financial flexibility and allow for a stronger focus on its core operations and future growth. Currently, Fourlis operates 21 IKEA stores, 124 INTERSPORT outlets, 20 Foot Locker stores, and 10 Holland & Barrett locations across Southeast Europe. The group has a presence in Greece, Bulgaria, Romania, and Cyprus, while also gradually expanding its geographic reach through Foot Locker into Slovenia, Croatia, Bosnia and Herzegovina, and Montenegro.

 

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