Carrefour Faces Challenges At Home, Abroad

Four board members at French retailer Carrefour's Turkish business have resigned as wider issues continue to hit the retailer hard. Carrefour is present in Turkey though CarrefourSA, a joint venture (JV) with Turkish company Sabanci Holding, which owns about 39% of the business. While Carrefour does have a promising emerging markets business, it is arguably pre-occupied with trying to resurrect its ailing French business, which has been a major source of concern over the past few years. It has been reported that Sabanci is unhappy with the current state of affairs and may be keen to extract itself from the partnership with Carrefour. There have been reports that UAE-based Majir Al Futtaim, which is a major Carrefour franchise operator in the Middle East and North Africa region, may be interested.

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