Lincoln

Lincoln discount supermarket to stop trading after nine months

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The nine-month-old Netto supermarket off Tritton Road in Lincoln is to cease trading along with 15 other stores in the UK, Sainsbury’s has announced.

The store, which back in October 2015 created around 25 new jobs, is set to close its doors in August.

The Danish retailer, based in the former Blockbuster Unit on the Lindis Retail Park, will join 15 others in the round of closures, with around 400 jobs said to be at risk.

Sainsbury’s and partner Dansk Supermarket Group ended ties, which were an attempt to rival the likes of Aldi and Lidl.

Mike Coupe, chief executive of Sainsbury’s, said: “To be successful over the long-term, Netto would need to grow at pace and scale, requiring significant investment and the rapid expansion of the store estate in a challenging property market.

“Consequently, we have made the difficult decision not to pursue the opportunity further and instead focus on our core business and on the opportunities we will have following our proposed acquisition of Home Retail Group.”