Disco SA, the Argentine unit of beleaguered Dutch supermarket Ahold, has reported a net loss of 2.6bn pesos (US$911.6m) for 2002.
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The six-month delay in releasing the results was caused by accounting scandals at both Disco and its parent company. As part of a company-wide probe, accounting irregularities of €8m (US$9.3m) were found at Disco, reported Dow Jones International News.
In an effort to reduce its debt, Ahold has put Disco and its other South American supermarket chains up for sale.
Disco said its total net worth, as of the end of 2002, was a negative 451.7m pesos.
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