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UK: Sainsbury’s to close down Netto stores

Supermarket chain J Sainsbury PLC announced that it will close Netto stores by August following the discontinuation of its joint venture with Denmark's Dansk Supermarked Group (DSG), according to BBC News.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

Sainsbury’s and DSG have agreed to end the partnership as Netto needed rapid expansion and significant investment.

Netto was brought back by the two companies to the UK in 2014 in an attempt to compete with discount stores such as Aldi and Lidl.

Mike Coupe, chief executive of Sainsbury's, said the company would rather focus on its core business and its proposed acquisition of Home Retail Group.

Netto employees, estimated around 400, may be redeployed by the companies.

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