Roularta: Storesquare to cease trading at end-February
(CercleFinance.com) - Roularta Media Group announces that Storesquare, an e-commerce platform for SMEs and local merchants, in which the Belgian media group holds 65% of the capital, will cease operations on 28 February 2020.
Storesquare represents a solution for too small a number of merchants. Despite the platform's growth and the increase in the number of visitors, it appeared that, over the long term, the Storesquare model is not viable, the group explained.
However, this cessation only has a limited financial impact on Roularta's results, as the assets were already amortised to a large extent last year. In 2020, it forecasts a positive impact on its results given the halt to the loss-making operation of Storesquare.
The market seems to agree - the Rolarta share is down just over 1% at 14 euros in Tuesday afternoon trading.
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