Apparel retailer H&M, which announced its exit from the Russian market, paid nine months in advance the rent for its flagship store in the Akter Gallery on Tverskaya Street in Moscow. Kommersant writes about this, citing two sources.
According to one of the sources, we are talking about the amount of at least 150 million rubles. According to another interlocutor of the publication, the network also had to pay all fines and penalties for not conducting commercial activities and untimely opening of a store in the Moscow Columbus shopping center. The amount of claims could reach 250 million rubles.
The retailer agreed to pay the fines in order to be able to reopen the store in this shopping center, a Kommersant source said. The company itself declined to comment.