Spain: Dia may close more than 200 stores

Dia, the Spanish supermarket chain, plans to close 219 outlets this month after a buyer for them failed to materialise, according to a report in El Pais.

The retailer had previously announced up to 300 of its stores might have to shut after it closed its 2018 financial year with €352 million ($396 million) in losses and in a situation of technical bankruptcy.

It is reported that, of the more than 250 stores initially placed on the chopping block, only 39 are likely to find a new buyer.

Barcelona is the city likely to be most impacted, with a total of 26 stores among 38 announced for closure in Catalonia as a whole. Asturias will see 22 stores close, while there will be 20 and 31 closures in the Madrid and Valencia areas respectively.

The 219 potential store closures represent a little over 6% of Dia’s total network of 3,474 outlets in Spain, according to information on the company website.

Source: El Pais / 65 Y Mas / Dia