Arbat Prestige to close last store

Russian perfumery and cosmetics chain Arbat Prestige is to close its final acting store this month, according to the retailer. The 3250 sq m store, based in Moscow’s Atrium trade centre, was the only asset that the retailer managed to keep following payment to creditors.

According to Kirill Ignatiev, who has been managing Arbat Prestige since September 2008, the chain will discontinue supply in early February. Shipments to Arbat Prestige finished in October 2008, since when all goods from closing stores have been sold through the Atrium outlet.