Makro’s multinational parent company Metro has pledged its commitment to its UK arm, following the replacement of four of Makro’s five board members, and said it has no plans to close any of its 30 stores.
In written responses to questions from Wholesale News it said: “Metro remains fully committed to the UK and will be providing all the support necessary to see the business return to its former position of strength.
“The ambition of the new management team is to restructure Makro in the UK and to get the business back on the growth path. There are currently no plans to sell or close the business.”
It added: “There are no plans to close stores. The priority is to get the company in-line with customer needs and market demands. The focus is very much on driving sales, but efficiency measures will not be ruled out.”
Asked why it brought in outsiders to fill the seats on the board, rather than appointing from within the Metro Group, it said: “While the respective board members left Makro based on amicable terms and mutual agreement, it was a quick departure. These circumstances made it very difficult to put together a new board from within the Metro Group at such short notice. Senior advisors of Alix Partners were already working with the UK management team and so with their knowledge of the business and the marketplace plus significant turnaround expertise they were best placed to take over immediately.”