CAIRO: Wholesaler Makro reopened its Qaliubiya branch after losing LE 15 million when the store was looted in the first days of the revolution, according to a press statement.
“Makro employees and Egyptians pulled together to ensure the reopening of the store just days after Egyptians were given the go ahead to return to work,” the statement read.
Managing Director of Makro Egypt, Francois Oliver, said, “Today, more than any other day we are proud to be in the Egyptian market. …Despite concerns amongst many about the future of Egypt we remain confident that the Egyptian market will continue to flourish.”
Adly Hussein, Qaliubiya Governor, attended the reopening along with Makro employees.
Makro’s Salam City store had suffered severe fire damages to the tune of an estimated LE 120 million.
Makro said it remains committed to its nearly 500 employees, including 150 employees working on the development of the Haram store and another 270 Salam City store employees, “whose salaries continue to be paid despite these temporary closures.”
Plans are underway to rebuild the Salam City store in the coming months.
Oliver said, “We look forward to maintaining and possibly even growing Makro’s presence in the market in the coming years.”
Each Makro store is an investment of up to €20 million and generates over 250 direct job opportunities, the statement read.
