Liquidation of New balance stores in Spain: discounts of up to 70% liquidation of New balance stores in Spain: discounts of up to 70%

The operator who manages the New balance stores in Spain and Portugal, experience Group, has informed employees that the establishments will be permanently closed between 10 and 15 January 2022. The news caught by surprise the workers who received a letter on December 28 announcing a collective dismissal (extinction ERE) for the entire staff of both shops and outlets. It is estimated that more than 250 affected will be unemployed for this reason. The decision still amazes many workers as the multinational sneakers and sports clothes were improving their sales after the worst months of the pandemic.

The feeling of disbelief is greater since in 2021 up to three new shops were opened in some central areas of cities such as Madrid and Bilbao. The operator has indicated that they want to bet on online commerce. According to the company's own forecasts, this year they had to match the pre-Covid-19 billing figures. In 2020, New balance invoiced in Spain 53.3 million not counting the 'online' channel, 31% less than the previous year.

22 establishments with discounts

On the occasion of the liquidation, its 22 Spanish and Portuguese shops will have special discounts in physical establishments over the next few weeks. All products of the brand will be found between 40 and 50% cheaper in the first days and as of Monday 3rd January they will make a greater discount of up to 70% in all shops.

The sports company currently has shops in provinces such as Madrid, Valencia. Seville, La Coruña, Barcelona and Bilbao. The most numerous are located in Madrid, three of them on main streets such as Gran Vía, Fuencarral or Jorge Juan and three outltes in shopping malls in Getafe, San Sebastián de los Reyes or Las Rozas, where customers already enjoyed important discounts. The firm has an online shop search engine where it is possible to get to know the ones closest to the customer's home.

Likewise, the intention of the company is to continue in the Spanish and Portuguese markets in one way or another. According to the multinational to Europa Press, it has already planned to open its own shops by 2022 without relying on other partners.