Denmark: Aldi to close 32 stores

German discount retailer giant Aldi has announced that it is going to close 32 stores in Denmark, following a year of losses.

According to sources, the reason behind the decision were the reported losses of 246 million DKK ($37.1 million) in 2016, which was still 54 million DKK ($81.6 million) more than the previous year.

According to Thomas Bang, Aldi’s spokesperson, the retailer still believes in the concept of high quality at low prices.

"We recognise that we need to give our customers a better shopping experience than we have done so far", added Bang.

Regarding their business plan, Bang said that Aldi closed outdated stores in order to be able to open "new, large and modern shops".

A modernization plan for 2017 – 2018 is in the works and will soon be disclosed.

Source: ESM