Sun, Nov 22 2009

Penny Market to open 20 stores in Bulgaria by end-2009

Wed, Oct 07 2009 16:27 CET byNick Iliev 1609 Views 3 Comments
Penny Market to open 20 stores in Bulgaria by end-2009

Photo: Красимир Юскеселиев

German diversified discount retail chain Penny Market is poised to open its first stores in the country by the end of 2009, country manager Vassil Fechko said on October 7, during the inauguration ceremony of the Penny Market logistics centre near Sofia, as quoted by Dnevnik daily.

Penny Market would open as many as 20 to 30 stores in the country by December 2009, followed by a comparable number in 2010. The first stores to open doors for customers will be in Sofia, Botevgrad, Vratsa, and Nova Zagora.

"Investments until December 2009 alone will reach 100 million euro, while the projected value of investment over the first five years is about 250 million euro," Fechko said.

Penny Market, a division of retail giant Rewe, is based in Germany, operating in nine countries in Central and Eastern Europe. Rewe Group is already represented in Bulgaria through discount retail chain Billa.

Comments

Anonymous Gastarbeiter von Koenl Sat, Oct 10 2009 18:32 CET

This comment has been hidden by the moderator because it contained квалификации.

Anonymous Brian Murray Thu, Oct 08 2009 08:20 CET
Inappropriate comment?

there has been a penny shop in eliko Turnovo for over a year but it never opened its doors to the public. When will this store open.

Anonymous Jed Wed, Oct 07 2009 21:12 CET
Inappropriate comment?

Good to see someone has sufficient confidence in the Bulgarian marketplace to go to the extent of investing 250m euro.

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