Empik gets rid of fashion segment

Retailer Empik Media & Fashion has completed talks on the conditions of the sale of its key fashion stores in Poland, the company said in a statement on Monday. The transfer of the assets should take place in Q3 and Q4 2014. The last talks on the deal value are under way, Empik said. During the second quarter of 2014 Empik closed down six fashion stores in Poland and had a total of 90 outlets in the segment. Stores in Russia and Ukraine are to be shut down before the end of the year. The company also said that it would sell one of its joint-venture fashion segment companies, River Island, and liquidate the second one, Oviesse.