Laurus NV is to dispose of 15 stores to its Dutch retail competitor Jumbo Supermarkten BV in a deal worth around EUR16m (US$21.4m). The move is part of Laurus’ restructuring programme.
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The Dutch retailer said the stores no longer fit into its retail concept.
The store handover will take place between April and October this year, with all employees being transferred to Jumbo.
The deal is subject to approval from the Dutch competitions watchdog.
In March, Laurus posted a full-year net loss of EUR45m (US$59.48m), but the retailer has said that in the coming fiscal year it expects losses to narrow.
Laurus, the second biggest Dutch retailer by sales after Ahold, sold its Edah and Konmar stores last year in order to focus on its 357 Super de Boer supermarkets.
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By GlobalDataThe company said in March that it planned to streamline its operations during 2007, reducing the number of distribution centres and selling 50 underperforming Super de Boer stores.
