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Takeover of Metro and Makro: "All options are open" - Business

Takeover of Metro and Makro: “All options are open” – Business

Several bids have been made to take over struggling retail group Makro Cash & Carry Belgium, curator Nick Peeters reported on Tuesday. Wednesday will begin in Makro stores a total liquidation operation.

In mid-September, the company court in Antwerp granted Makro Cash & Carry Belgium protection against its creditors. This decision was followed by a procedure aimed at selling all or part of the group, which includes 11 stores of the catering wholesaler Metro and six branches of the Makro supermarket chain. Together, these two brands employ around 2,000 people.

Last week, the deadline for submitting takeover offers was extended to November 15. There are “several offers”, now says Nick Peeters. “At the moment, all options are open,” replied the curator, when asked about the existence of offers for all stores and not just Metro. However, it is the court that will have to make the final decision.

The curators will now start by communicating more details to the staff, further specifies Nick Peeters. Some names of interested buyers are already known: the Dutch catering wholesaler Sligro and Vincent Nolf, the current CEO of Makro and Metro. The two, however, only envisage a resumption of the activities of Metro.

Wednesday will begin in Makro stores a total liquidation operation (with a reduction of -20%) on non-food products. The offer on the webshop has been reduced.

In mid-September, the company court in Antwerp granted Makro Cash & Carry Belgium protection against its creditors. This decision was followed by a procedure aimed at selling all or part of the group, which includes 11 stores of the catering wholesaler Metro and six branches of the Makro supermarket chain. Together, these two brands employ around 2,000 people. Last week, the deadline for submitting takeover offers was extended to November 15. There are “several offers”, now says Nick Peeters. “At the moment, all options are open,” replied the curator, when asked about the existence of offers for all stores and not just Metro. However, it is the court that will have to make the final decision. The curators will now start by communicating more details to the staff, further specifies Nick Peeters. Some names of interested buyers are already known: the Dutch catering wholesaler Sligro and Vincent Nolf, the current CEO of Makro and Metro. The two, however, only envisage a resumption of the activities of Metro. Wednesday will begin in Makro stores a total liquidation operation (with a reduction of -20%) on non-food products. The offer on the webshop has been reduced.

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