Jumbo closes about a quarter of the branches of restaurant chain La Place. That says the financial director of the supermarket company, which owns La Place, Monday in De Telegraaf.

A spokesman for the supermarket group was not yet able to immediately confirm the message.

As a result of the closure, 480 jobs are at stake, forced layoffs are prevented, says CFO Ton van Veen of Jumbo. He emphasizes that this closure is not the end of the formula.

La Place was previously owned by department store chain V&D. After the formula proved very successful within the department stores, it was also marketed as a 'stand-alone' concept at the beginning of this century. Jumbo took over La Place after the demise of V&D.

According to De Telegraaf, 23 out of a total of about a hundred branches will be closed, both in inner cities, shopping centers and along the highways. Staff will be notified on Monday. During the corona crisis, parent company Jumbo raffled millions through the forced closure of the restaurants.

In 2019, La Place had a turnover of 165 million euros, which was an increase of 10 percent compared to a year earlier. Due to the bankruptcy of Hudson's Bay, Jumbo already lost a number of La Place branches, including branches in Barcelona and the Amsterdam Kalverstraat, which were added last year.

Further foreign expansion was planned for this year, in Copenhagen and Seville.