DIA Group has closed 25 Minipreco stores in Portugal, resulting in the loss of approximately 159 jobs. The retailer said the closures are the result of 'the effort to adapt, modernise and balance the operations of DIA Portugal, with the aim of better preparing the company for current and future challenges arising from the current economic situation in the country,’ according to media reports. In the last two years, the multinational company operating in Spain, Portugal, Brazil, and Argentina, accumulated losses of over €620m.
In Portugal, net sales reached €283.1m in the first half, 4.5% below the €296.3m generated in the same period last year, due to the reduction of stores and mobility restrictions. DIA Group confirmed its intention to continue to invest in Portugal. The company hopes to adjust its operation to the current reality in order to ensure the future success of the company.