AliSuper's owner has given away three shops to Pingo Doce as it winds down the business in the face of rising costs and old debt repayments.
Pingo Doce has taken over the leases for the stores in Caliços (Albufeira), Quinta do Lago and Vale do Lobo for the cost of the 'goodwill.'
The deal between the Jerónimo Martins Group and the AliSuper owner José Nogueira was confirmed today giving Pingo Doce 25 stores in the Algarve and Nogueira three less to worry about.
When Nogueira bought the bankrupt chain of AliSuper stores the €26 million he paid was roughly the value of the company's debts to the State, Social Security, bank creditors, suppliers and employees. Much still is owed and has been a drag on the financial position of the ailing business.
German competitor Lidl has been expanding its shops in Loulé and Olhão in recent weeks to incorporate a self-service bakery service in each and a new cafe in the Olhão store.
All of the Lidl stores in the Algarve have extended their opening hours to 22.00 to cater for the holiday demand.
In a €9 million investment, Apolónia has opened a new store in Lagoa which now is the official supermarket capital of the Algarve with more stores per capita than in any other location.
Things looked different for AliSuper back in 2012 as the then Minister for the Economy, Álvaro Santos Pereira, said the purchase of the business by the Nogueira Group was sending a clear message to other potential investors that "the Algarve remains a secure investment."
Pereira lost his job soon afterwards, Nogueira now is losing his credibility as he sells off his loss-making chain piece by piece. Of the remaining 41 stores and the future of AliSuper, José Nogueira said "Now I'm thinking of expanding further north and in Lisbon and to leave the south which is very seasonal."
Buying a southern chain of stores, closing them down or selling them on and then deciding to open stores in the north is not the planning of a born retailer. Luckily Nogueira has a fruit and nut, and a meat business that has supplied the money he so far has wasted by paying over the odds for AliSuper in 2012.
Regarding the unpaid wages of current and past Alisuper staff, Nogueira says there are about 400 employees “whose salaries are up to date.”
