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According to leading online economic news publication Világgazdaság (Global Economy), the company has been retreating across Europe, shutting all its outlets in Slovakia and closing 12 stores in Latvia and nearly 30 in Lithuania.
The closures follow the EU’s decision to place Sergey Schneider, one of the owners of Mere’s parent company, the Svetofor Group, on its sanctions list. Mere had previously planned major expansion in Hungary, announcing in 2024 that it intended to open 200 stores within three years.
The Budapest shop ultimately opened in December 2025 but has now shut its doors, ending the chain’s short‑lived presence in the country.
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