Dutch supermarket and wholesale retailer Laurus has said it has agreed to sell six of its remaining eight Belgian stores to a unit of Belgian retailer Colruyt.
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Laurus said it would close the two other stores in October, marking the retailer’s exit from the Belgian market.
“Laurus will have terminated all of its loss-making food retailing activities in Belgium and will continue as a purely Dutch supermarket organisation,” Laurus was quoted by Reuters as saying.
Laurus was rescued from the brink of bankruptcy last year by French retailer Casino, which now owns a 38.7% stake in Laurus and has an option to take a 51% controlling stake until the end of 2008.
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