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Sainsbury's to close Netto stores

UK supermarket chain Sainsbury's is to close its Netto stores after abandoning a joint venture with a Danish retailer.

Its 16 stores will continue to trade throughout July and will close during August,Sainsbury's said.

About 400 jobs are at risk, although the companies hope to re-deploy staff where possible.

Sainsbury's and its partner in the venture, Dansk Supermarked Group, said the trial was ended because Netto needed rapid expansion and investment.

BBC NEWS - BUSINESS

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