Supermarket chain Dia decides to close its stores in Brazil | a job

Spanish supermarket group Dia announced on Thursday (14) that it has decided to close its units in Brazil, after nearly 23 years of presence in the country. As a result, 343 stores and 3 warehouses will close.

According to the company, this measure comes after the continuous negative results recorded by its subsidiary in the country.

In a statement signed by Guillaume-Marie Didier, the chain's chief financial officer, the company also expressed its intention to give priority to its “key markets.” The focus, according to the company, will be on allocating resources to Spain and Argentina.

The decision was taken as part of the restructuring of the group's Brazilian subsidiary.

The company said that after these closures, strategic alternatives for the rest of its business in the country will be analysed.

The first Dia Group store was opened in Brazil in 2001. In August, the group also announced its departure from Portugal, where it sold nearly 500 supermarkets.

The goal at that time was also to focus efforts on its core markets. At that time, the company also highlighted its commitment to divestment to reduce net leverage.

Last February, the supermarket chain reduced its annual net losses to 30 million euros, compared to a loss of 124 million euros recorded in 2022.