Italy’s Dico TuoDì Up For Sale
Italian discount supermarket chain Dico TuoDì has been put up for sale, with a number of parties said to be interested in acquiring the business.
The decision comes after the business posted a loss of €40 million in 2015 and failed to sell 80 stores to an international retailer, reports daily Il Sole 24 Ore.
The company’s shareholders have given a mandate to Rothschild and lawyer Roberto Cappelli to seek a buyer for the whole or part of the company.
According to reports, there are allegedly already interested parties, but nothing concrete.
The Dico TuoDì chain is owned by the Faranda family and operates 400 stores in 16 Italian regions with around 4,000 employees.
Unions have criticised plans by the company’s management to sell chunks of the sales network, claiming that such a move would further complicate the situation for its employees.
Elsewhere, Dico TuoDì is confident on recouping around €300 million from an arbitration dispute with rival retailer Coop Allieanza 3.0.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine