Later this year, the group will open a new range of hybrid stores that will bridge the gap between retail and wholesale.
"After months of planning and consultation with shareholders, employees and unions, we are confident that the new way forward will secure the future of the group and allow us to take advantage of new market opportunities," said CEO Peter Dodson.
"It is always difficult to take a decision to close down existing stores and we remain mindful of how this will affect some of our staff members. However, the move will ensure the ongoing profitability and sustainability of the company and safeguard jobs in the long-run. For this reason we believe it is the most responsible route to take."
Metcash Trading Africa management is still in consultations with staff representatives and unions to map out an agreed rationalisation programme.
