Penny plans Bulgarian expansion

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Carl Collen


Penny plans Bulgarian expansion

The German discounter is set to invest €100m in the eastern European country this year

Penny plans Bulgarian expansion

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Rewe Group-Owned discount retailer Penny Market has revealed that it will invest up to €100m this year on expanding its operations in Bulgaria.

The group, which operates stores across Europe in the likes of Austria, Italy, France, Romania and its home market of Germany, plans to construct a total of 10 stores and a logistics centre in the village of Stolnik near Sofia.

According to Penny's CEO for Bulgaria Vasil Fechko, the stores will be located in Lovech, Berkovitsa, Veliko Tarnovo and Omurtag, while the distribution centre will cost up to €30m.

The supermarkets will be opened following the launch of the distribution centre, Mr Fechko said.

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