Clothing Retailer Modis Files for Bankruptcy Protection

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Russian budget clothing chain Modis, operated by Clothing 3000, has filed for bankruptcy, according to Kommersant.

Modis, a family clothing store chain that has been in operation since 2006, began facing business challenges in 2020 following the death of its founder Igor Sosin. By 2024, the number of retail outlets had shrunk to 31 from 120, as heirs struggled to sustain the business amid a broader decline in demand for clothing and footwear in brick-and-mortar stores.