Theo Albrecht, one of the brothers who co-founded German retail chain Aldi, has died at the age of 88. Theo was described once by Forbes magazine as "more elusive than the Yeti," and had not been seen in public for forty years.
According to the company statement, Theo Albrecht still went into the office daily, although illness had caused him to hand control of the company over. Theo and his brother founded Aldi, a contraction of Albrecht Discount, in the 1960s.
There are 8,000 Aldi stores across the globe, including 4,000 in Germany alone. The company said: "We are losing in him our highly respected founder and a upright person."
