Netto stores to close

DCFC79

http://www.bbc.co.uk/news/business-36701062

I'm not really surprised to be honest, the idea was to provide competition to Aldi and Lidl but I cant say Netto is cheaper than them.

Thrugelmir

Given it was a UK - Danish joint venture. Expansion plans most likely went out of the window after the result.

Aldi and Lidi are both privately owned German companies. Be interesting to see how they now position themselves.

[Deleted User]

Bottom line ; we have a bigger fish to fry now we own the home retail group.

Thrugelmir

venison wrote: »

Bottom line ; we have a bigger fish to fry now we own the home retail group.

Consumer Retail sector isn't the place to be investing at the current time either. Given a huge amount of the product lines are imported.

kinger101

Thrugelmir wrote: »

Given it was a UK - Danish joint venture. Expansion plans most likely went out of the window after the result.

Do you imagine the British will stop eating food because of the Brexit vote? I suspect it has more to do with it never being anything more than a half-hearted venture. 16 stores is just a distraction.

DRFC1879

Correct. To take on the discounters they needed scale. Supply chain was inefficient as Sainsbury's kept the two formats separate with the view to Netto becoming self-sufficient with expansion but with it looking highly unlikely that the Competition Commission will carry out a full investigation into the HRG takeover, Saino's priorities have clearly shifted.

guestman

netto wanted to expand but JS never. instead JS called it a day so it can plow its power into argos