July 20

Taloussanomat - Abstract:
German hard discount chain Lidl gives up in Estonia and possibly in the Baltics. Lidl says that the market is too small. Most of the personnel has been fired.

Lidl opened no shops in Estonia but bought 30 lots. Not a single construction sites were started. One of the reasons to give up business in Estonia is the lack of shop assistants, says Lidl.

Lidl has not started to sell its lots.

Estonian business paper Äripäeva says that Lidl gives up in all three Baltic countries. A competitor says that Lidl was too late to enter the market. The price of construction and wages increased too rapidly. Lidl entered the market in 2002.

Lidl has 101 shops in Finland.

Comment:
Trends in the global market and in the new member countries of the EU. And soon in Wal-Mart near you. Estonian economy grows about 11% a year.