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There are currently six corner-shop stores Piccadilly in Sofia and one in Varna. Photo by BGNES
The Bulgarian retail chain Piccadilly is planning to invest BGN 100 M in the development of a new "cash and carry" chain by 2013.
The company plans to expand and introduce the Tempo hypermarkets – a combination of cash and carry and soft discounter. It will be located in "Retail Park Sredets" in Sofia on an area of 10 000 square meters and will offer over 60 000 items, including including full lines of groceries and general merchandise.
The first Tempo hypermarket is currently under construction and is expected to open doors on December 2.
The store would create more than 450 job positions.
"By 2013, we plan to open a total of five Tempo hypermarkets in cities with more than 100,000 people," Piccadilly officials said.
The company is developing the Tempo chains in Serbia and at present there are stores in Serbia, Bosnia and Herzegovina and Croatia.
After it became part of "Delta Maxi International," a subsidiary of the Serbian firm Delta Holding, Piccadilly announced it will begin to develop several new chains in Bulgaria, including corner-shops stores Piccadilly Express.
"At the moment Piccadilly has seven corner-shop stores, six of them are in Sofia and one is in Varna," company officials said, adding that until now investment in corner-shop stores was BGN 3 M.
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