58 Vita stores are closing

VitaVITA.Photo: Gorm Kallestad / NTB scanpix

The new owners of the cosmetics chain Vita will shut down 58 stores. They do not rule out more closures.

There are closing-down sales in 58 stores, and E24 has confirmed that these stores will be closed after the sale is over.

Investment firm Jotunfjell Partners took over the helm after Cosmetic Group, which owned the chains Loco and Vita, went bankrupt last week.

– The stores are closed due to lack of profitability and also an assessment of potential profitability going forward, says Geir Arne Drangeid in First House on behalf of Jotunfjell Partners.

There are 207 Vita stores in Norway, according to E24. As a result, Jotunfjell Partners are in total closing 82 stores, as the Loco chain has also been wound up.

It is uncertain how many employees are affected by the closures, and there may be more cuts.

– There are still many stores that are not entirely safe. There are still discussions and clarifications that need to be in place before they are fully decided upon, says Drangeid.

© NTB Scanpix / #Norway Today

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