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One of the largest supermarket chains is saying goodbye to the Brazilian market after more than two decades of presence. Meet the supermarket chain that sold more than 340 stores to avoid bankruptcy
One of the largest supermarket chains in Brazil, operating for 23 years in the country, has just sold more than 340 units for a surprisingly low price. Facing a serious financial crisis, the company decided to leave the Brazilian market to avoid imminent bankruptcy. This abrupt exit took many customers by surprise. In this article, you will find out which chain is abandoning Brazil and the reasons behind this drastic decision that shocked the retail sector.
Which supermarket chain left Brazil to avoid bankruptcy?
The last few years have been very difficult for most companies, largely due to the crisis caused by the Covid-19 pandemic. As such, it is necessary to take drastic measures that often surprise customers, especially when it comes to a big brand.
According to the portal 'G1', the supermarket chain Day, from Spain closed the sale of 100% of its capital in Brazil, in May 2024. The sale was to a client of the manager MAM Asset Management, from Banco Master. The institution preferred to keep the identity of this client confidential.
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The Group, which owns the supermarket chain, said the decision was made so that it could focus on its most profitable stores, which are located in Spain and Argentina. As such, it will no longer invest in its Brazilian units, which are still unknown as to what will happen from now on.
É It is important to highlight that the Spanish group, one of the largest supermarket chains, will leave Brazil after 23 years since the beginning of its history., to avoid possible bankruptcy, given that the stores were no longer profitable. However, it is not yet known what will happen to the units, which remain open and operating in the country.
Supermarket chain undergoes judicial recovery
According to the company, one of the largest supermarket chains, it announced that Grupo Dia is committed to MAM Asset Management to make a contribution to Dia Brasil's benefit in the amount of 39 million euros, equivalent to more than 220 million reais.
According to information from G1, the group had an estimated debt of R$268 million and because of this, they entered into a judicial recovery process, given the Court of Justice of Sao Paulo.
As reported by the Group at the time, given the persistent negative results recorded in the country, the company decided to proceed with the closure of 343 stores and 3 Distribution Centers, in an attempt to provide greater stability to its operations and avoid bankruptcy. It is now awaiting the definition of new strategic decisions.
Information from the UOL claim that the Spanish Group that controlled Dia sold its stores for a symbolic price of 100 euros, which is around R$600. Now, the expectation is that the supermarkets that are still open will be able to turn things around or even receive new investments.
About Dia Group
Dia Brasil is a supermarket chain that completed 23 years of operation in Brazil in 2024. Always seeking innovation in its processes, the company is committed to following its principles that value transparency, respect and proactivity of its team, in addition to reducing bureaucracy, respect and proactivity of its team, in addition to reducing bureaucracy in the market.
Thus, Dia has an essential pillar in its DNA, which is proximity. With its headquarters in Spain opened in 1979, the company has expanded and conquered new markets, such as Portugal, Argentina and Brazil, where it currently has more than 600 stores with thousands of employees.
As the operation grew, the need to train its talents also became the company's focus, which seeks to provide constant training to its teams.
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