End of all hope for Makro Belgium as final bid is rejected

As the administrators have rejected the only bid for the six Belgian Makro stores, there is no hope left for the chain. Its less perilous sibling Metro, meanwhile, will most likely be acquired by Dutch competitor Sligro.

No hope left

It was already against all expectations that a French fund launched a bid for the ailing cash&carry chain, but that attempt is now judged to be insufficient. The bid did not meet demands, was not deemed credible and was – according to Belgian newspaper De Standaard – also supported by a Belgian national of ill repute and a previous conviction for fraud. For the 1,400 employees, all hope for a restart has been extinguished.

It has always been clear that perspectives for Makro’s wholesale sibling Metro were far better, and now it has been revealed that its Dutch competitor Sligro is taking over ten of the eleven Belgian Metro stores. Only the location in the north of Antwerp was not included in the bid, as it is too close to an existing Sligro store. All 400 jobs in Metro stores would be saved, however, as would 100 jobs at the shared Makro/Metro headquarters. Moreover, the acquisition sum of 55 million euros could be used to soften the blow for the Makro employees.

However, it is still for the court of commerce to decide: it is supposed to look into them on 2 December, and make the final decision within the same month.