Mere stores in Latvia and Lithuania have closed after Russian businessman Sergey Schneider was added to the EU sanctions list.
In Latvia, the chain operated 12 stores through SIA Latprodukti and the Latvian branch of Lithuania-registered Valiente. Latprodukti reported revenue of €31.57 million in 2024, up 53% year on year, but remained slightly loss-making.
The decision concludes a longer regional story. Poland placed the Mere operator and its owners on its national sanctions list in 2025. The business later restructured its Latvian operations through a Serbian company, while in Lithuania Valiente was transferred to a Spanish-registered company still controlled by the previous Russian shareholders.
The EU-level listing has now halted operations in Latvia and Lithuania. The closure of 12 Latvian stores is too small to reshape the retail market, but it leaves one open question: who will replace Mere in the lowest-price retail segment — established discounters, Fix Price-type chains or another newcomer?