Metro Cash & Carry considers pulling out of Denmark

After first having intensively and carefully looked at all possible options, the German Metro Group is considering pulling out of Denmark with its wholesale stores. The trading company explains this step with the fact that the Danish market is considered to be saturated, giving insufficient perspective for growth. Denmark has five Metro Cash & Carry stores, providing work to around 700 employees.

"While we're seeing an increasingly stronger growth dynamic in our Cash & Carry branch, unfortunately this wasn't the case in Denmark. We now want to focus our portfolio of countries on those regions where we are able to increase our market share. Despite all our efforts, unfortunately we didn't succeed in doing so in Denmark", says Olaf Koch, chairman of the board at Metro AG and CEO of Metro Cash & Carry. The Danish Metro Cash & Carry stores have ceased to be profitable for a number of years.

"Our Danish employees have worked incredibly hard, but Denmark is a relatively small, and extremely difficult market for wholesale companies, says Charles Kay of Metro Cash & Carry Denmark. "I want to thank all our colleagues, and convey our appreciation for their engagement." Metro Cash & Carry Denmark is now cooperating closely with local employee representatives to discuss and assess the situation. A decision is expected in a couple of weeks.