According to the Buenos Aires Times, Falabella of Chile will close 4 stores in Argentina. Falabella, which has ten stores of various formats in the country will close two Falabella department stores and two Sodimac outlets in Buenos Aires. The newspaper quotes the company as saying that it is “evaluating profitability options in its subsidiaries in Argentina, which could include the entry of a strategic partner”. A number of companies have apparently been considering an exit from Argentina as the covid pandemic further deepens the challenging business environment in the country which has been in recession since 2018.

Falabella to close stores in Argentina