The company said, in a press release released this Wednesday, that the decision was taken by shareholders, “following a set of structural and circumstantial factors that compromised the viability of the operation in its current form”.
Without disclosing the number of employment contracts terminated, the note emphasizes that the process is being carried out “in strict compliance with the legal regime of collective dismissal”.
“This decision, although difficult, aims to create the necessary conditions for the restructuring and modernization of the brand, with a view to its future recovery in a new format, more competitive, efficient and adjusted to the demands of the Angolan market”, it says in the statement, promising the return “with a more modern, robust proposal focused on excellence in customer service”.
The Jumbo hypermarket, founded in 1973, before the country's independence on November 11, 1975, is located in Luanda, on Estrada de Catete, now Rua Deolinda Rodrigues.
The enterprise had been facing management problems for years, and about two years ago the shareholders injected capital, according to the newspaper Expansão, which indicated, at the time, the need for R$20 million.
