French supermarket giant selling off 21 of its stores

French supermarket giant selling off 21 of its stores
Auchan has had a turbulent time and faces financial losses. Photo: AFP
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.

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.

 

Member comments

Become a Member to leave a comment.Or login here.