Australia’s beleaguered discount supermarket chain, Franklins has denied media reports that the majority of its outlets will be sold to independent group IGA. The chain, the third largest across Australia, has experienced severe financial problems in recent years, leading Hong Kong parent company Dairy Farm International to consider a break up of the group.
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Predictions of the destination of the bulk of Franklins’ 287 stores have been intense, but company spokesman Russell Deeble insisted yesterday “it’s all speculation.”
The Adelaide Advertiser reported that Metcash Trading’s IGA banner group would have first choice of ex-Franklins stores for purchase. It seems that conclusion was drawn from Metcash’s admission that several of its independents had expressed interest in the supermarket outlets.
The same report also maintained that a significant number of the stores would be sold to Australian sector giants Woolworths and Coles Myer.
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