World News

Metro CEO expects less than 30 Real stores to be closed – letter

DUESSELDORF, Germany (Reuters) – German wholesaler Metro <B4B.DE> on Tuesday said it expects the future owners of its struggling Real hypermarkets unit to close less than 30 of the division’s stores, according to a staff letter by Metro CEO Olaf Koch that was seen by Reuters.

Metro earlier on Tuesday said it had reached a deal to sell Real, which has around 34,000 employees and about 270 stores, to X+Bricks and the SCP Group.

(Reporting by Matthias Inverardi; writing by Christoph Steitz; editing by Thomas Seythal)