In response to the escalating cost of living and intensifying competition within the retail sector, Supervalu, a major supermarket chain in Ireland, has shuttered two of its stores. The affected outlets, located in Ballymun (north Dublin) and Market Cross (Kilkenny), faced closure due to dwindling profitability exacerbated by a decline in customer footfall. Earlier this year, Supervalu also ceased operations at its Merchants Quay store in Cork City.
The surge in prices has prompted supermarkets across the nation to slash prices, driving up sales but failing to translate into increased profits. Supervalu, grappling with stiff rivalry from major competitors Tesco and Dunnes, cites these challenges as contributing factors to the decision. Approximately 80 employees are now facing job losses.
As one of the country’s top supermarket chains, Supervalu holds the third-largest market share at 21%, trailing behind Dunnes with 23% and Tesco at 21%. This strategic move comes notably just ahead of the bustling Christmas season, marking a critical juncture for the supermarket giant.