Coop Denmark's high-end retail chain Irma is to close its last store in the spring of 2024, according to media reports.
Martin Brinch Jöhncke, acting chain director for Irma, told Danish daily Politiken that the group has been working on the new Coop supermarket concept, which will replace Irma, and in the process it "raised its ambitions a little".
"We are making some bigger changes than we had originally anticipated. Therefore it [is taking] longer," the publication quoted Jöhncke as saying.
Coop Denmark plans to test the new concept in two stores, scheduled to open before Christmas.
The locations include SuperBrugsen in Hinnerup and Irma Codanhus in Frederiksberg.
The local stores in Dagli’Brugsen – along with the stores that will not be part of the Coop chain – will in time trade under the Brugsen banner.
The retailer reported a loss of DKK 628 million (€84.2 million) across its operations in its financial year 2022, which it described as 'the worst year ever' for the group and its independent co-operative associations.
Revenue for the period amounted to DKK 46.9 billion (€6.3 billion) excluding VAT, registering growth of 2% year-on-year.
The company stated that 'large investments' in developing the business, and a decline in consumer confidence affected its performance.