Spanish supermarket chain El Arbol is to lay off a total of 1,800 employees in Spain and close 190 of its Spanish supermarkets.
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El Arbol, which was acquired from Dutch retailer Laurus in September by British venture capital company CVC Capital Partners, employs a total of 8,000 people in Spain and operates some 700 supermarkets and cash and carry stores. It has the biggest market share in some regions of Spain, including in Asturias where it is to lay off around 200 workers and close 17 supermarkets, reported the Spanish News Digest.
