Tag #Spar International

What specific actions led Spar International to revoke its Iranian franchise license, and what are the immediate consequences for the Iranian franchise?

Spar International revoked the license for its Iranian franchise after an internal investigation revealed potential irregularities and license agreement violations. The investigation, conducted by a reputable international consulting firm, found no evidence of sanctions violations or involvement with sanctioned individuals. However, concerns remain regarding the use of the franchise to circumvent sanctions through the procurement of non-essential equipment and facilitation of travel for individuals with no apparent business ties to the stores.