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ALDI: Biggest German Discounter flees Greece!

German biggest discounter Aldi  closes its doors in Greece. “The group ended the operations of its 38 branches,” the company said today Friday. “There it just doesn’t function as it should, “said a spokeswoman, according to Austrian Kleine Zeitung.  The project was deemed as “not sustainable”.

The German group has already conducted talks with several interested parties for the acquisition and continuation of its activities, a statement said. This is a weak comfort for the 720 employees of ALDI-Hellas, when unemployment has reached 11,9% in the country..

November 2008 ALDI, one of the biggest discounters in the retail world, began its operations in Greece. Six months later it opened its first four stores in Athens and it was planning to open a total of 20 new stores, mainly in the capital  and a second logistics center in Patras in 2010.

The announcement of ALDI comes only one day after domestic ATLANTIC supermarket chain applied for inclusion in Article 99 (protection from creditors because of financial problems) leaving 4.000 employees jobless.

According to Greek media, ALDI obviously could not stand against LIDL, the German discounter and main ALDI competitor, who entered the Greek market a while ago. Third German discounter PLUS had to be sold to supermarket chain Vasilopoulos. It is the first time ALDI turns its back to a country.

The withdrawal of ALDI, almost two years after the operation of its first store in domestic market and a project worth 2 billion euros, creates a new dramatic pitch to the chain of  multinational giants leaving debt-driven Greece. 

Fnac  sold two of its three branches to the German Public Group a couple of weeks ago.

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  1. I discovered ALDI 4 months ago. I don’t want them to close. They combine quality with great prices and they support local market
    ALDI stay in Greece!

  2. keeptalkinggreece

    Desperate Greeks could start… a petition! Especially if you consider 720 people will be unemployed. But money goes to money so their decision is definite. I would boycott them for leaving… 🙂

  3. Right said! 😀