German hard discount retailer Aldi Süd is pulling out of Greece, the company has confirmed.

“Aldi Süd intends to discontinue its operation of 38 stores in Greece [while it is] in talks with interested parties for the acquisition and continuation of activities,” Aldi said, without providing further details.

The market exit - the first in the company’s history - shall be completed by May 2011 at the latest. Aldi Süd only launched in Greece in November 2008.