In Latvia, the story of one of the oldest shoe retail chains has come to an end. The company "Euroskor Latvijā," which has been operating since the early 1990s, has officially been liquidated after several years of business contraction and store closures.
The shoe retail company "Euroskor Latvijā" has officially ceased to exist. According to data from Firmas.lv, the enterprise was removed from the Register of Enterprises on June 1.
The liquidation process began in the spring of this year following a decision by the company's owners. The reasons for the closure were not commented on by the company itself.
However, the financial indicators of recent years indicate serious difficulties for the business. In 2025, the company's turnover decreased by 26.4%, amounting to 1.6 million euros. At the same time, the company's losses increased, reaching nearly 335 thousand euros.
The closure of the company was the result of a gradual reduction in its market presence. Over the past year, "Euroskor Latvijā" closed seven retail locations in various regions of the country — in Ventspils, Saldus, Madona, Kuldīga, Tukums, and Cēsis.
By the end of 2025, the chain was effectively reduced to two remaining stores.
What is important to know: this is not just about the closure of individual retail locations, but about the complete cessation of activities of a legal entity that had operated in the Latvian market for over three decades.
The company was registered in 1991 — shortly after the restoration of Latvia's independence. During this time, the shoe retail market has changed significantly: competition from international chains, online stores, and foreign marketplaces has intensified.
The owner of "Euroskor Latvijā" was AZ Holding LLC, owned by Jānis Andersons, Eriks Zarakhovich, and Raitis Zarakhovich.
The liquidation of "Euroskor Latvijā" has become yet another example of how traditional retail chains are facing the need to adapt to changing consumer habits and increasing competition in online commerce.
Leave a comment