The only Hungarian shop linked to Russian ultra-discount retailer Mere has unexpectedly closed, which left customers and observers uncertain about the future of the controversial chain’s Hungarian operation.
According to Világgazdaság, the store, which opened under the name Basket Plus in Budapest’s 18th district in December 2025, is currently listed as temporarily closed. However, it remains unclear whether the closure is merely a technical interruption or marks the end of the retailer’s brief Hungarian venture.
The company operating the shop has not yet provided a public explanation. Attempts to contact the store and its operator, TS Retail Kft., have so far been unsuccessful.
Basket Plus disappears from the Hungarian market – at least for now
The Russian-backed Mere chain had attracted considerable attention before entering Hungary, with the ultra-discount retailer occasionally described as a potential challenger to established chains such as Lidl and Aldi. Its Hungarian operation ultimately opened under the name Basket Plus, after initially appearing under the slightly different name “Basket Plus”.
The shop on Besence Street in Budapest was reportedly still operating just days before its unexpected closure. Google currently lists the store as “temporarily closed”, while there has been no publicly available indication of an official decision ordering the closure.
The shop’s social media activity has also stopped. Its profile had previously been updated almost daily, generally with product promotions, but there have been no new posts since 1 August.
The sudden closure has prompted speculation among customers on social media. Some commenters claim that the shop is preparing to reopen, while others suggest that employees have already been dismissed and that the closure could therefore be permanent. None of these claims has been independently confirmed.
There are also suggestions online that operational or product-related issues may have contributed to the closure. However, there is currently no publicly available official information supporting such claims. What is known is that the Basket Plus shop opened in December 2025 and was originally expected to be followed by further expansion in Hungary.
Read our article about the store before its opening: Russian discount chain coming to Hungary under new name: here’s when and where it will open
The company behind the shop posted a substantial loss
The financial results of TS Retail Kft., the company operating the shop, provide another interesting piece of the puzzle. According to Világgazdaság’s report, the company’s 2025 accounts have recently become available. They show that its revenue increased from zero in the previous financial year to HUF 202.2 million in 2025, suggesting that it had begun substantial commercial activity.
However, this revenue was far from enough to cover its costs. TS Retail recorded an after-tax loss of HUF 301.7 million in 2025, compared with a loss of HUF 187.3 million a year earlier. Its loss therefore increased by around 61% in one year.
Two major categories of expenditure stand out. Material expenses increased from HUF 18.8 million to HUF 213.3 million, while personnel expenses rose from HUF 166.1 million to HUF 279 million – an increase of around 68%.
Notably, personnel costs alone exceeded the company’s entire annual sales revenue by roughly HUF 77 million. Combined, material and personnel expenses amounted to almost HUF 492.3 million, compared with sales revenue of HUF 202.2 million.
Depreciation also increased, from HUF 1.3 million to HUF 3.8 million, while other expenses rose from HUF 20,000 to HUF 652,000. Financial expenses increased significantly as well, reaching HUF 7.4 million. The company employed an average of 26 people in 2025, compared with 18 the previous year, which partly explains the rise in personnel costs.
Overall, TS Retail posted an operating loss of HUF 294.6 million. After financial items, the company ended the year with an after-tax loss of HUF 301.7 million.
Read our article published on the opening day of the Hungarian store: Hungary’s first Mere discount store opens today – if you’re looking for rock-bottom prices, this will be your shop!
Is Mere’s Hungarian expansion in trouble?
The figures alone do not prove that the Basket Plus shop is closing permanently. The store had only been operating since December, meaning that 2025 represents just the beginning of its commercial activity. At the same time, the accounts show that the business was operating at a substantial loss while its revenue was still relatively modest.
The company had previously been associated with plans for further expansion, with reports indicating that as many as ten additional Hungarian stores could open within a year. For now, however, there is no official confirmation that those plans have been abandoned.
The current closure could still be temporary. But until the operator provides an explanation, the sudden disappearance of Mere’s only Hungarian store raises questions about the future of the Russian discount chain in the Hungarian market.
