The Algarve-based retail group Alicoop, owner of supermarkets Alisuper, Macral and Geneco, which has closed all shops due to debts to suppliers, will have its future decided at a general meeting to be held at some time between May 23 and June 5.
Alicoop President José António Silva said the meeting aims to “prevent the accumulation of damage and not to jeopardise the future,” and that he is convinced that it is possible to save the company which has debts of 80 million euros.
More than 150 Alicoop suppliers met on May 8 in Silves, with workers and landlords of the 81 Alisuper supermarkets closed, to discuss a strategy to raise funds to save the group.
According to the an Alicoop spokesman: “The support for the plan of recovery of Alicoop has already received the green light from the Institute of Support to Small and Medium Enterprises, IAPMEI, but is still awaiting the approval of the second-largest lender, Caixa Geral de Depósitos bank.
