09:35 22.02.2021

Ukraine imposes sanctions on company owning Sportmaster chain

1 min read
Ukraine imposes sanctions on company owning Sportmaster chain

Singapore's Sportmaster Operations Pte. Ltd, which directly owns Sportmaster-Ukraine LLC, has been included in the sanctions list by the Ukrainian National Security and Defense Council's decision and the Ukrainian presidential decree dated February 19.

A complete ban on trade operations, transit of resources, flights and transportation across Ukraine was imposed on Singapore's Sportmaster Operations for three years, as well as a ban on the imports of its products directly by the company or with the involvement of representatives of foreign countries. Relevant measures have been undertaken with regard to the company to prevent the withdrawal of capital from Ukraine.

According to the information on the Sportmaster-Ukraine website, the chain includes about 30 department stores in 15 Ukrainian cities with a total area of 50,000 square meters, which are annually visited by about 10 million people, and the company has over 1,000 employees in total. Additionally, Sportmaster-Ukraine has developed a chain of dealer and franchise stores, which includes more than 150 retail outlets (including franchised Columbia, Sportlandia, Weekender, B2G) with a total area of more than 16,000 square meters in more than 30 Ukrainian cities.

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