Portuguese retailer Jerónimo Martins and French retail group Intermarché are in talks to acquire a number of outlets that were formerly owned by Porteguese supermarket chain Alisuper.
Alisuper was rescued from bankruptcy by investor Nogueira three years ago, but the grocery retailer has struggled since then.
Os Mosqueteiros (Intermarché) has confirmed that it would invest €5 million in the puchase of nine Alisuper outlets in the Algarve.
Intermarché administrator Carlos Almeida said: “We plan to treble the amount of turnover at these supermarkets, as well as keep their 51 workers employed."
He revealed that an additional 91 staff may be hired in the long-term as part of the retailers plans to open 63 new Intermarché supermarkets before the year 2020.
With the aim of having 295 stores in operation by that year, Intermarché would then achieve a 13.5 per cent share of the market.
According to the group, the outlets it is taking over are in Albufeira, Alvor, Aljezur, Loulé, Quarteira and Sagres.
However, the competition authority must still approve the deal.
Meanwhile, Jerónimo Martins, owner of Pingo Doce, is also in talks to acquire a number of the Alisuper stores, according to Diário Económico.
In March, it was revealed how Alisuper was facing financial problems with suppliers limiting supplies to stores due to unpaid bills, while the 340 employees faced wage delays.
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