Norwegian clothing brand Cubus leaves Poland. In July this year, the Polish subsidiary filed for bankruptcy. The court approved the application at the beginning of September.
Cubus to close its stores in Poland by the end of October
The Cubus Polish subsidiary filed for bankruptcy on 30 July 2019, which was reported by wp.pl. At the beginning of September, the court approved the application – it declared the company bankrupt and appointed a receiver responsible for its liquidation. According to tvn24bis.pl, the majority of Cubus stores in Poland will probably close down by the end of October. The reason for the decision to leave the Polish market was poor financial results in recent years.
Cubus is part of the Varner Group and has stores in Norway, Sweden, Germany, Finland, Latvia and Poland (currently several).