Turkish supermarkets chain Ramstore, the first foreign retailer to enter Bulgaria in 2001, is vacating its rented premises in Sofia, business daily Dnevnik reported on Friday.

Ramstore sold the only store it outright owned in Bulgaria last month for EUR 8,5 M last month, but company officials said they had no plans to leave the market, the daily said.

Ramstore is owned by Migros, a member of the Turkish Koc diversified holdings company.

The retailer failed to grab a slice of its own discount segment early on and has seen its market share dwindle after the entry of international majors Kaufland and Billa, as well as the development of local supermarket chains.

The vacated stores will be rented by Bulgarian supermarkets alliance CBA and Lithuanian retailer VP Market.

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