Pick n Pay will shut one in 10 corporate supermarkets

[Platinum Wealth]

To turn around Pick n Pay and restore profitability, the group will shut 35 stores and convert another roughly 70 to the mass-market Boxer brand (in areas where this makes sense) or to PnP franchise operators.

 

In total, more than 100 stores will be converted or closed. This is a sizeable chunk of its current footprint – it only has 300 company-owned PnP supermarkets in South Africa. The closures amount to approximately 10% of its owned store base.

 

Read the full story here: https://www.moneyweb.co.za/news/companies-and-deals/pick-n-pay-will-shut-one-in-10-corporate-supermarkets/