Ed

Several suppliers contemplating a haircut to the money owed to them by the Marinopoulos supermarket chain intend to ask for more favorable terms in their future transactions with Sklavenitis, the chain that will take over the flagging retailer. They will therefore be seeking favorable treatment in comparison to their competitors, in a form of "loss negotiation."

July’s and August’s salaries were given to the employees of supermarket Marinopoulos. Using its pre-financing, of 10 million Euros, the company will also pay the rents of the supermarkets all around the country. On Monday, suppliers will start bringing goods to the shops.

Germany's supermarket group REWE said on Wednesday it will withdraw completely from discount business in Bulgaria with all PENNY stores ceasing to operate by the end of next month.

German corporation REWE Group, represented in Bulgaria by two popular supermarket chains BILLA and PENNY Market is allegedly in the process of selling their locations across Bulgaria.

According to unconfirmed information reported by Kapital daily, the procedures have already been launched and the results will be visible in less than two months.

The owners of Bulgaria's supermarket chain Piccadilly and the Carrefour franchise agreed to merge the two retail chains in Bulgaria.

According to Dnevnik.bg, the two owners, the Bulgarian company AP Mart and Greek franchise of Carrefour, KMB Bulgaria, will establish a new joint venture.