Bulgaria's Hotel Sector Faces Workforce Shortages and High Taxes Ahead of 2025 Season
Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce
Germany’s REWE Pulls out PENNY Discounter from Bulgaria
Business | September 16, 2015, Wednesday // 21:27
- Tweet
Send to Kindle
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.
REWE Group will focus on full-range store business with PENNY’s sister company BILLA Bulgaria taking over the logistics centre in Stolnik near Sofia and - where possible - some of the current 49 PENNY outlets in the country, REWE said in a statement.
“Where possible, PENNY employees will be offered a continued employment at BILLA Bulgaria,” the statement read. “The employees who cannot be offered employment opportunities will receive severance pay in excess of that required by law.”
Currently, REWE operates 92 BILLA supermarkets in Bulgaria.
In the future, the REWE Group will focus its international discount activities with PENNY on business in the other five countries where it currently operates: Austria, the Czech Republic, Hungary, Italy and Romania.
PENNY opened its first discount store in Bulgaria in 2009.
Related Articles:
Bulgaria's Real Estate Trends: Two-Bedroom Apartments Outpace Three-Bedrooms
The real estate market in Bulgaria maintained stability and activity during the first quarter of 2025, with strong demand despite a moderate drop in transactions compared to late 2024
Bulgaria's Weather on April 28: Sunny Skies and Mild Temperatures
On April 28, Bulgaria will experience mostly sunny weather, accompanied by a light to moderate easterly to northeasterly wind
IMF Predicts Slower Economic Growth for Bulgaria in 2025
The International Monetary Fund (IMF) has revised its forecast for Bulgaria’s economic growth, predicting a slowdown to 2.5% in 2025
Bulgaria's Hotels Planning Price Increases for the Summer 2025 Season
According to Georgi Duchev, executive director of the Bulgarian Association of Hotel Management Professionals, one-third of Bulgarian hoteliers are planning a modest price increase of about 10%
Moody's Positive Outlook for Bulgaria’s Banking Sector, Highlights Eurozone Integration
Following its earlier confirmation of Bulgaria's credit rating at Baa1, Moody's has revised the outlook for the country's banking sector from stable to positive
IMF Predicts Slower Economic Growth for Bulgaria in 2025
The International Monetary Fund (IMF) has revised its forecast for Bulgaria’s economic growth, predicting a slowdown to 2.5% in 2025
Bulgaria's Hotels Planning Price Increases for the Summer 2025 Season
According to Georgi Duchev, executive director of the Bulgarian Association of Hotel Management Professionals, one-third of Bulgarian hoteliers are planning a modest price increase of about 10%
Sofia to Rent Out Municipal Housing Under New Ordinance
Sofia Municipality is set to implement a revised framework for managing its municipal housing stock by introducing two distinct rental categories
Moody's Positive Outlook for Bulgaria’s Banking Sector, Highlights Eurozone Integration
Following its earlier confirmation of Bulgaria's credit rating at Baa1, Moody's has revised the outlook for the country's banking sector from stable to positive
Trump’s Tariffs Hit Bulgarian Garment Industry Hard
Bulgarian garment companies are struggling to find new markets due to the recent increase in tariffs on industrial goods under Donald Trump’s administration
Bulgaria's Tourism Recovery Hindered by Personnel Shortages
Tourism in Bulgaria has made significant strides toward recovery in 2024, though it still hasn't returned to pre-pandemic levels of 2019
