Crisol ceases trading

Grupo Santillana has decided to close its chain of Crisol stores so as to concentrate on its main publishing arm and improve profit margins and economic results.

Crisol opened in 1987 and was a pioneer at the time in combining the sale of books and other entertainment products. Over the years the chain has undergone a number of changes and it is now too small to offer viable opportunities for future growth.

The economic downturn, the reorientation, and near-extinction, of the traditional music and video business, and the continued fall in consumer spending in recent months make it unfeasible to inject more resources into an an area that offers no reasonable return for Grupo Santillana, which is currently busy developing new products and markets.