The sale of the Real hypermarket network by Metro AG to the Russian investor SCP Group could lead to the closing of numerous stores and the loss of thousands of jobs. It’s being reported that a portfolio of nearly 280 stores was sold for €300m along with the its online operations at real.de. In an interview with the daily Handelsblatt, the company’s director said that Real was unsustainable in its current form and that non-performing units could be sold off to companies like Kaufland and Edeka while others may be converted into drugstores. Labor leaders warn that the jobs of up to one-third of the company’s 34,000 employees could be at risk.
