Rewe acquires insolvent Feneberg supermarket chain, saving 72 stores and 3000 jobs

Rewe, with an investor, will acquire the insolvent supermarket chain Feneberg, saving all 72 stores and most of its 3000 employees. The acquisition, approved by the creditors' committee, means Feneberg's store network will move to Rewe, surpassing Edeka's bid due to a more attractive overall package for creditors and staff. Feneberg, with over 500 million euros in annual revenue, will see its regional program continue, though some administrative job cuts are anticipated.