Metro To Close Some Ontario Stores, Convert Others To Food Basics

Metro Inc. plans to reorganize its Ontario grocery retail network over the coming months, affecting 15 Metro stores that will either be closed or converted to the Food Basics discount format to contain costs amid intense competition.

The Montreal-based company (TSX:MRU), one of Canada’s largest grocery retailers, says it will offer buyouts to some of its unionized employees but didn’t’ provide details about how many employees or which locations will be affected.

Metro has more than 600 food stores under several banners and about 250 pharmacy stores in Ontario and Quebec. It employs about 65,000 people in total.

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