Four large Finnish players left the Russian market or announced the sale of business. Revenues are falling, and prospects are not clear, their owners say.
Among investors are US funds General Catalyst, KPCB and Russian Mail.Ru Group.
The Finnish retailer Prisma will close three of the five remaining hypermarkets in St. Petersburg. The company does not plan to leave Russia after Kesko, but the development of a new format - shops near the house - is stalling.