The outlet, linked to Russian discount chain Mere, opened in December 2025 following a lengthy period of preparations. Its arrival attracted attention because of the company's unusually ambitious plans for the Hungarian market.

In 2024, Mere announced plans to open as many as 200 stores in Hungary within three years. The company subsequently identified potential locations and began preparations for its first outlet, which ultimately opened in Budapest's 18th district under the Basket Plus name rather than the Mere brand.

That expansion will now not go ahead, with the Budapest store having closed its doors.

According to Hungarian economic news portal Világgazdaság, the company cited technical reasons for the closure. The shutdown comes amid a wider retreat by Mere from several European markets.

The chain has reportedly closed all of its outlets in Slovakia, while 12 stores have closed in Latvia and nearly 30 in Lithuania.

The wider closures also follow the European Union's decision to place Sergey Schneider, one of the owners of Mere's parent company, the Svetofor Group, on its sanctions list.

While this may have affected the company's European operations, the available reporting does not establish the sanctions as the confirmed reason for the closure in Hungary.

The Budapest opening had been a long time coming. Mere's plans for Hungary first emerged in 2024, when the company indicated that it wanted to build a substantial network in the country, with reports at the time referring to ambitions of up to 200 stores within three years.

When Basket Plus opened, the store attracted substantial attention, with queues forming on its first day despite its relatively out-of-the-way location near the M5 motorway.

For now, Mere's Hungarian expansion has ended with the closure of its first and only store, less than a year after opening in Budapest's 18th district.

Photo: Mere

*********************************************************************************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 

Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters