‘The decision to close down Euroset-Boutique in Krasnoarmeyskaya St. in Yekaterinburg was taken as early as December 2008. What we are mostly interested in is the economic expediency of running every single outlet, and in this store’s case, we were hoping to reduce our outgoings through lowering the sky-high rent. We’ve tried negotiating with the landlords a number of times, but, alas, to no avail,’ Euroset Ural branch CEO Kirill Shabanov said to an UrBC reporter.

‘We are planning to reopen our luxury boutique very soon; this is actually a matter of two to three months’ time. But the boutique will no be operating in a new place, that is, a large shopping mall. This new spot was chosen because it is centrally located and the rent figures are fair,’ Shabanov said.