Ica will leave Norway whatever happens with the Coop deal.
A no from Konkurransetilsynen also means Ica will stop all cash flow to Norway which can lead to bankruptcy.
That is the latest answer from Ica-President Per Strömberg.
To Dagens Næringsliv CEO Per Strömberg writes: “Ica Group will leave Norway. Selling to Coop is the best option for Norwegian customers and for the employees in Norway. Ica Norway is not viable on its own. Ica Group has for many years been forced to transfer capital to keep the business alive.”
The newspaper writes that there is neither any prospect to continue with a stripped-down Ica in Norway.
If Coop may not be allowed to take over, 553 stores will be closed, warns Ica. In 2014, Ica transferred 50 million a month to the Norwegian operations . A no from the Competition Authority will mean it runs out of funds. According to Dagens Næringsliv, Ica has often pointed to the Authority that Ica Norway is insolvent.