In early 2012, Banks.am wrote about the problems STAR trade chain had experienced with overdue liabilities towards suppliers and the possible ways of their resolution.

In particular, Executive Director of STAR trade chain Theodora Ticeric told Banks.am that they were settling overdue liabilities and “at the same time, the commercial department was holding new talks on commercial issues.”

Two months later we asked Theodora Ticeric to present the preliminary results of the work that has been carried out and received the following answer:

“The negotiation process with the suppliers is in progress and it is subject to ongoing changes depending on objective and subjective reasons. In any case, both we and the suppliers clearly realize the problem and are ready to resolve it. As of now, negotiations with the suppliers are halfway finished.

We have closed several stores lately, because, as we have frequently stated, their level of profitability did not justify the lease of premises, or their location was not suitable (sometimes both of them). The closure of the stores was not an end in itself. It was conditioned by the desire to get rid of the principle of having a non-profitable business. The issue of closing new stores is not on the agenda now. As for the re-opening of the stores, we intend to open other stores in the same administrative districts that will meet our business requirements.”