French supermarket giant selling off 21 of its stores
A French supermarket giant has announced the sale of 21 of its loss-making stores, with the possible loss of more than 700 jobs.
Leading supermarket brand Auchan has announced that 21 of its stores are up for sale - and could face closure if they do not find a buyer.
The troubled retail chain has endured several years of financial woes and has recently restructured in an attempt to stem its loses.
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The 21 stores that will be put up for sales are ones with "no realistic prospect of a return to profitability" the chain announced on Tuesday.
The company said the sale potentially affected 723 employees, and if no buyer could be found, a job protection plan would be put in place.
According to French newspaper Les Echos, the 21 sites to be offered for sale include the Villetaneuse hypermarket (Seine-Saint-Denis), which employs 188 people.
Other sites listed were the supermarkets of Faulquemont (Moselle), Tours (Indre-et-Loire), Esvres (Indre-et-Loire), Roanne (Loire), Marquette-lez-Lille (Nord), Arras (Pas-de-Calais), Perpignan (Pyrénées-Orientales), Mulhouse (Haut-Rhin), Rouen (Seine-Maritime), Albert (Somme), Athis-Mons (Essonne), Chevilly-Larue (Val-de-Marne) and Saint-Ouen-L'Aumone (Val-d'Oise).
In total, Auchan has 637 stores in France and employs 73,800 people.
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Leading supermarket brand Auchan has announced that 21 of its stores are up for sale - and could face closure if they do not find a buyer.
The troubled retail chain has endured several years of financial woes and has recently restructured in an attempt to stem its loses.
READ ALSO And the cheapest French supermarket is . . . ?
The 21 stores that will be put up for sales are ones with "no realistic prospect of a return to profitability" the chain announced on Tuesday.
The company said the sale potentially affected 723 employees, and if no buyer could be found, a job protection plan would be put in place.
According to French newspaper Les Echos, the 21 sites to be offered for sale include the Villetaneuse hypermarket (Seine-Saint-Denis), which employs 188 people.
Other sites listed were the supermarkets of Faulquemont (Moselle), Tours (Indre-et-Loire), Esvres (Indre-et-Loire), Roanne (Loire), Marquette-lez-Lille (Nord), Arras (Pas-de-Calais), Perpignan (Pyrénées-Orientales), Mulhouse (Haut-Rhin), Rouen (Seine-Maritime), Albert (Somme), Athis-Mons (Essonne), Chevilly-Larue (Val-de-Marne) and Saint-Ouen-L'Aumone (Val-d'Oise).
In total, Auchan has 637 stores in France and employs 73,800 people.
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