The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Food, Beverages And Tobacco In Specialised Stores 47.2 - Retail sale of food, beverages and tobacco in specialised stores
3,600 jobs Number of planned job creations
Announcement Date
29 September 2005
Employment effect (start)
4 January 2010
Foreseen end date
Description
The German REWE Group, whose daughter firm Billa occupies the second place on the Bulgarian food market, is planning to expand its network with 6 or 7 new shops, announced Achim Egner, CEO of Rewe-Zentral AG. The shops will be built in the regional centres with more than 40.000 inhabitants. 'Our aim is to have 50 supermarkets in Bulgaria till 2010', said Egner. Billa will invest €120 million and some 2,300 new working places will be created. At the same time REWE intends to develop its international discount chain of shops Penny market. The expectations are to build 90 shops allover the country, where some new 1,300 persons will find work. The investment here is foreseen to reach €100 million. 'We are very satisfied from the the financial results of Billa shops in Bulgaria and we find the country as one of the most attractive markets in Eastern Europe', said Dr. Egner.
Eurofound (2005), REWE, Business expansion in Bulgaria, factsheet number 62330, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62330.
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