• The company explained that this restructuring strategy is important “to make the operation of its subsidiaries sustainable” in Argentina;
• The Chilean retailer had 10 stores in Argentina.

South American retail giant Falabella announced on Monday that in the next 60 days it will close brick-and-mortar stores in San Juan, Córdoba, and Mendoza, in Argentina, reported Diario Financiero.

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In a statement, the company explained that this restructuring strategy is important “to make the operation of its subsidiaries sustainable” in Argentina, and detailed that “this process includes a voluntary retirement plan for all employees of the stores that will cease activities.”

The Chilean retailer, which had 10 stores in Argentina, will only maintain its units in Buenos Aires. It will also continue with its online sales business, local media said.