In a shock move, supermarket giant Kaufland has announced that they are leaving the Australian market.
The German group has spent millions buying up sites for their supermarkets throughout the country - but despite their heavy investment, Kaufland has announced they will undertake an ‘orderly withdrawal’ from Australia.
It’s a shocking blow to shoppers who were excited about the supermarket’s opening in Australia, given that it was expected to offer more than double the amount of products for sale that Woolworths and Coles - at much lower prices.
Frank Schumann, acting CEO of Kaufland International, said this wasn’t an easy decision.
‘This was not an easy decision for us. We always felt welcome in Australia,’ he said.
‘We would like to thank our employees and we apologise for the disruption this decision will cause.
‘In Europe, we see a great deal of growth potential. We will actively shape the consolidation of the European retail sector, thus further reinforcing our leading position.’