Coles Group Ltd., the Australian retailer, put itself up for sale in February as its rebranding strategy failed to win customers and widened the performance gap with Woolworths. It hadn't spent enough on its supermarkets or inventory handling systems to stem market-share losses. It was forced to halt plans to convert all its Bi-Lo discount supermarkets into the more expensive Coles format after customers chose to shop elsewhere after the revamp of 60 percent of the 202-store chain.
Sometimes you need to sell your soul to survive.
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