German supermarket giant Kaufland will exit Australia and has told its 200 employees their jobs will go.
Kaufland’s head office is in Melbourne, where it had planned to open supermarkets and compete with the likes of Aldi, Coles and Woolworths.
However the business has announced that it will concentrate on its European core markets.
Management of the Australian operation only several months ago announced plans to open at least 20 stores.
Kaufland representatives have declined to comment further.
AAP