Retail

Sligro Food Group Files As 'Interested Party' For Metro Business In Belgium

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Sligro Food Group has announced that it has formally applied as an 'interested party' for the Metro business in Belgium.

On 14 September, the corporate court in Antwerp granted Makro Cash & Carry Belgium NV/SA's request for creditor protection and judicial reorganisation, and appointed legal representatives to oversee this process.

Makro Cash & Carry Belgium NV/SA includes both the Makro and Metro cash-and-carry operations in Belgium.

The Metro Delivery Service NV/SA is not part of these proceedings, Sligro added.

In June of this year, wholesale group Metro AG announced the sale of its Belgian operations, Makro Cash & Carry Belgium N.V. to Bronze Properties S.à r.l, following a review process.

Metro Belgium

The court officers have commenced a process to sell all or parts of Metro's activities in Belgium to interested parties.

This process will continue over the coming months and Sligro Food Group will examine whether, and if so how and under what conditions, it can integrate Metro's activities into its operations and offer employment to a majority of Metro employees.

Sligro Food Group added that is not possible to make any concrete statements about the outcomes of this process at this stage.

In February of this year, the Dutch wholesaler reported a turnover of €1.9 billion in its financial year 2021, down 2.5% compared to 2020.

The company’s net profit amounted to €20 million – an increase of €90 million compared to a year earlier. EBITDA increased by 45.3% to €109 million during the financial year, from €75 million in 2020.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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