Zara denies speculation it will exit Greek market

Spanish retail giant Zara has denied speculation that it plans to suspend business operations in Greece.

Media speculation came after the company announced it was closing down its store in the upmarket Kolonaki area, in central Athens.

In a statement Thursday, the firm said that the Kolonaki store was too small to support the brand’s range and that plans were being made to move to a larger space.

The firm added it plans to open more stores and expand its activities in the country.