Globus Markthallen has announced it plans to cease operations at its Bedburg, Chemnitz, Essen, Neubrandenburg and Wesel locations in Germany.
Schwarz Group-owned retail chain Kaufland is set to take over the locations, with the move subject to approval by the country's Federal Cartel Office and the consent of landlords.
'New Management'
"It has previously been shown that the Globus market halls cannot be operated economically at the locations mentioned," said Thomas Hewer, spokesman for the management of Globus Markthallen.
"Against this background, we have decided to sell these markets and ensure that they continue to operate under new management."
In general, Globus said that its market halls were 'looking forward to a successful 2023/2024 financial year'.
Market Halls
The company operates 65 Globus market halls across Germany, which are part of the family-run Globus Group based in St. Wendel, Saarland.
The retailer has a long history, dating back to 1828.
As local entrepreneurs, the approximately 20,000 Globus employees throughout Germany develop their market hall according to the wishes and preferences of the respective region.
Globus regularly checks each individual location for its profitability. This includes the further development of the existing market hall locations, the disposal of individual markets as well as targeted expansion.
'Preserve Jobs'
"In Kaufland we have found a potential successor whose concept is ideally suited to the requirements of the respective locations, which will continue to ensure local supplies and preserve jobs," Hewer added.
"Of course, the employees will be informed first as soon as the next steps have been decided and the Federal Cartel Office has given its approval."
