Euro-GSM, a major player on the Romanian GSM retail market, will close 15 stores this year, over 10 percent of its network, to cut costs, considering the unstable economic context, Business Standard reported on February 27. "The network had over 130 stores at the end of 2008. In 2009, due to unfavorable economic conditions, and in order to ensure optimisation of costs and a raise in the efficiency of the activity of the entire Euro-GSM network, we will close some 15 stores. However, we are open to any opportunity which would help us develop the network in profitable conditions," said the companys Marketing Manager, Cristina Szabo.

The firm ended 2008 with 27.7 million Euro in net sales, down 14 percent year-on-year. In September, Euro-GSM estimated turnover worth over 35 million Euro for 2008, which would have meant an eight percent increase. One of the companys main competitors, Germanos Telecom Romania, will continue to expand its retail network in 2009, to 280-285 units from 260 stores, three times below the pace registered in previous years, due to the economic crisis.