Russian retailers seek loans

According to unconfirmed reports in the Russian press, ten local food retailers have asked state banks for a total of RUB50 billion (USD1.9 billion) in loans to help survive the global financial crisis. The companies include all four listed Russian retailers - X5 Retail Group, Magnit, Dixi and Sedmoi Kontinent - as well as smaller rivals Lenta, Kopeika, O'Key, Holiday, Mosmart and Victoria.

www.planetretail.net