Following its decision to withdraw from the Greek market after just two years of operations, hard discount retailer Aldi Süd is to close the first 25 of its 38 Aldi Hellas stores by the end of December.

From November until February next year, more than 500 employees will lose their jobs. It is thought that those interested in acquiring parts of Aldi’s network include AB Vasilopoulos, discount rival Lidl (Schwarz Group) and fellow German retailer Rewe Group.

All the negotiations have been kept secret and the Aldi management have requested about E125 to E135m (£105.9m to £114.4m) for the new distribution centre and headquarters in Sindos near Thessaloniki and E9m
to E12m (£7.6m to £10.2m) for each owned store.