Falabella will close all stores in Argentina
What: Chilean company was already withdrawing from the country since September 2020.
Why is it important: Shutdowns will be made progressively.
The pandemic has accelerated the process of digitizing retail and has affected the results. To adapt to this new trend and make the operation sustainable over time, Falabella announced back in September 2020 that they would close four of their stores in Buenos Aires.
At that time, Falabella put the four stores up for sale and was looking for partners to take over the other franchises. Employees were also offered the opportunity to retire voluntarily.
Flagship store at Mendoza Plaza Shopping might already have received a proposal to replace Falabella.