Sports retailer Gresvig has long been one of the dominant retailers in Norway, with its G-sport and G-Max chains highly visible all over the country. Now they’re being shut down following large losses, with most being moved over to the Intersport chain.
Newspaper Dagens Næringsliv (DN) reported just before the weekend that G-sport and G-Max stores will soon disappear. “This can seem sad, especially for the employees,” Lars Kristian Lindberg, chief executive of Gresvig, told DN. “This isn’t about the marking on the door. It’s about how we, through Intersport, can retain the best access to leading brands, which is becoming steadily more demanding.”
He admitted the company’s financial situation was also “very demanding, we have to be honest about that.” Like other retailers all over the world, Gresvig needs “to turn things around” at a time when competition from lower-cost online providers are making it increasingly more difficult for chains with lots of “bricks and mortar” expenses.