Dick Smith to close his grocery line, blaming unbeatable Aldi

Australian entrepreneur Dick Smith has announced he is closing his line of Australian-made groceries, Dick Smith Foods, blaming competition by the Aldi supermarket chain, which he says has made it impossible for his brands to continue selling enough to maintain its presence on supermarket shelves.
As he made the announcement publicly at a press conference on Thursday morning, Mr Smith choked back tears, saying he tried to save the jobs of workers in Australia but failed.
“I couldn’t, I couldn’t. It was beyond me,” he said.
The closure will affect four staff directly and hundreds or even thousands employed by various suppliers around the country over the next 12 months, Mr Smith said. Sydney Morning Herald – Read more…