Romania’s largest independent retail chain La Cocos, which runs large-sized supermarkets, is opening its fifth store in Pitesti, under a EUR 11 million investment, Ziarul Financiar announced.
The store will be opened on the premises previously used by the bankrupt PIC hypermarket chain, which is close to the motorway to Bucharest.
“The store was purchased with the help of a EUR 5 million bank loan granted by OTP Bank. Thus, La Cocos allocated a EUR 16 million investment budget for the opening of the two new stores in 2024. Out of this, EUR 5.5 million is being used for the fourth hypermarket (…) in Brasov,” said the hypermarket chain’s founder, Iulian Nica.
The remaining approximately EUR 11 million will be invested in the fifth store, which will be opened in the second part of 2024 in Pitesti.
Of the total, EUR 5 million is the value of the building, and EUR 6 million will be used for opening the store.
iulian@romania-insider.com
(Photo source: Keechuan/Dreamstime.com)
