The Spanish unit of Dutch retail giant Ahold has reportedly drawn up a strategic plan to restore profitability that may include the closure of 65 stores over the next four years.
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Ahold is hoping to sell its 625 Spanish stores this year and will provide details of the proposed plan to those parties interested in acquiring the assets, reported AFX News, citing Spanish media.
Ahold’s plans to sell its Spanish operations follow a series of other divestments of international operations as the company tries to cut its debt and recover from a massive accounting scandal last year.
