ECONOMY

Aldi joins list of retailers pulling out

German discount supermarket chain Aldi has decided to sell up and leave the country, the latest foreign retailer to pull out of Greece’s contracting economy. Aldi, which has been present in Greece since November 2008, announced it has decided to stop operating its 38 branch local network and has begun looking for a buyer. «Talks are being held with interested parties for the acquisition [of the network] and the continuation of their operations,» Aldi said, without offering any further information. Present in nine other countries, Aldi said it will concentrate on developing its 4,200 branches in Germany, Austria, Switzerland, Slovenia, Hungary, the UK, Ireland, US and Australia. Earlier this month, French multimedia retailer FNAC decided to bring an end to its five years of business in Greece and shut down its three branches in the country after completing a 3.5-million-euro investment in Athens less than a year ago. Indicative of changes likely to make an appearance on the supermarket landscape was news earlier this week that medium-sized supermarket chain Atlantic has filed for protection from its creditors in an attempt to remain in operation despite its debt problems.