Make up Store franchisee files for bankruptcy
2009-06-26
On 19 June 2009 the Moscow Arbitrary Court registered a claim from the Federal Tax Service pertaining to the bankruptcy of
Grand Kosmetik, the Russian franchise partner of the Swedish cosmetics chain
Make up Store, reported
Kommersant.
Grand Kosmetik obtained the franchise rights for the development of the Make up Store brand in Russia at the end of 2006 and, as part of this deal, agreed to open 15 outlets within a year. The company did manage to launch several stores but, at present, the brand is represented by just one unit in Russia – located in the
Moscow shopping centre Shchuka – and even this is expected to close soon.
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