Discount grocery retailer Lidl has blasted reports stating it is considering an exit from Switzerland as the domestic retail market continues to suffer.
Rumours about the company’s future in the country have circulated in the German press as consumers flock over the border into France, Germany and Italy for cheaper goods priced in euros as the value of the Swiss franc continues to soar.
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“Lidl Switzerland emphatically states that a withdrawal from the Swiss market was – and continues to be – out of the question. Anything to the contrary is completely untrue,” a statement from the Lidl said.
“In fact, Lidl read reports about it entertaining the idea of giving up its Swiss business with great astonishment.
“Lidl wishes to make absolutely clear that these reports are merely a rumour, and have no basis in fact. Lidl Switzerland is extremely satisfied with its run of business in Switzerland and will continue to expand its business there.”
The statement added that Lidl will continue to implement its planned expansion strategy in the country, announcing that the already-constructed stores in Einsiedeln, Thusis, Schaenis, Romanshorn, Marly, Jona and Pfäffikon will open between February and June next year.
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By GlobalDataIn 2008 the hard-discounter discontinued operations in Norway after failing to grab more than 2% of the market, selling 50 stores to a local retail rival Rema 1000.
