Lebanon Businessnews News

Spinneys to open in Rabieh and Mtayleb
Five other branches are scheduled for 2014
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Retail chain Spinneys will be opening two new outlets in Mtayleb and Rabieh by 2014, said Michael Wright, Chief Executive Officer. The opening dates are not specified yet, as works are still taking place.

According to Wright, five more outlets are anticipated for 2014, in the Greater Beirut area, but they are still in the negotiation phase.

The Ashrafieh outlet near Tabaris is subject to legal conflict between Spinneys and TSC.

A rumor reporting that the Spinneys chain is for sale is incorrect, according to Wright. “In coming June, we will be selling our operations in Jordan to Carrefour, because we had a very good offer. But our operations in Lebanon are intact.”

Spinneys is promising a big expansion plan for 2015. A new $5 million branch will be opening in Choueifat, in the upcoming ‘Spot C’ mall (previously announced as Choueifat Mall). It will occupy 7,300 square meters.

“Budgets dedicated to our developments reach $40 million,” Wright said. Most of the outlets will be located close to heavy concentrations of population, mainly in the Greater Beirut Area and other regions. He said that most of their coming outlets will be standalones rather than in-mall stores.
Reported by Rana Freifer
Date Posted: Dec 12, 2013
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