Portuguese food retailer Alisuper has sold 12 stores to Spar for €750.000, reports local newspaper Publico.
All of the outlets are located in Portugal’s Algarve region, and the deal includes all 78 jobs and goods.
Last year, Alisuper sold seven stores to France’s Intermarché and three to local supermarket chain Pingo Doce, after which it entered a Special Revitalization Process (PER) at the end of the year.
Before the deal with Spar, Alisuper’s store portfolio consisted of 25 units.
The Algarve-based supermarket chain has €35 million in accumulated debts. According to the local trade workers’ union (CESP), the company owes €150.000 in unpaid salaries to workers and, at this moment, none of the remaining stores are open.
A creditors meeting will take place in Viseu on 26 April.
Spar, which has 15 supermarkets in the Algarve region (33 in Portugal) has plans to double the number of stores in two years.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
