Business · Companies · 2 hrs ago

Tegut holds clearance sale as it exits the German market

Tegut holds clearance sale as it exits the German market

Tegut stores across Germany are drawing large crowds as the supermarket chain sells off their remaining goods.

Discounts have reached up to 50% on many products, and some shoppers have faced long queues.

Tegut’s parent company, Migros Zurich, is leaving Germany after years of losses.

The chain began with around 300 stores, and the German competition authority has approved takeovers by rival retailers.

Edeka is taking about 178 stores and Rewe 38, while smaller chains are also taking some locations.

Some former Tegut stores are expected to reopen under other brands, but Tegut itself is disappearing from the German market.

3 sources

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What people are saying

Osthessen NewsLocal news outlet reporting on the store crowd
Before the door, queues formed; inside, people continued shoulder to shoulder.
via T-Online
Lebensmittel ZeitungGerman trade publication reporting on the sale
Customers carried noodles out of the store by the box.
via T-Online