Insolvent chain Diverta's sales fall by a further 26%

The turnover of insolvent bookstore chain Diverta fell by 26.6% in the first eleven months of this year against the similar period of last year, to 18.8 million euros.

Books generated 35% of sales, while the rest of the revenues were fetched by stationery, IT and media, and toys.
For next year, Amalia Buliga, general manager of the bookstore chain, expects a revenue stagnation. Buliga also said by renegotiating rent, cutting wages, phone services and other costs, she expects spending to be cut by 3 million euros.
Diverta, one of the leading bookstore chains on the Romanian market, has closed 12 stores since the beginning of the year, cutting its retail area by 20%, to nearly 18,000 square metres. Currently, Diverta operates 53 stores, 14 of which in Bucharest. In December Diverta closed the 1,800 square-metre Magheru store because of too high rent per square metre (48 euros).