Goody's Closes Two of its Restaurants in Bulgaria

Business | June 9, 2003, Monday // 00:00| Views: | Comments: 0

Greece fast-foods chain Goody's closes two of its three restaurants in Bulgaria, Greece newspaper Nafteboriki cited Goody's President Achilleas Folias.

The closing of the two restaurants aims at shrinking the company's expenditures.

Goody's group owns over 150 fast food restaurants in Greece, Cyprus and Bulgaria.

However the company intends to terminate its business activities in Bulgaria in the coming two years and to concentrate on the imposing of the group's new brand of fast foods restaurants on Greece and Cyprus market.

The Greece company has invested over EUR 3.3 M in its fast food chain in Bulgaria.

Besides reducing its business activities in Bulgaria, Goody's will also delay its entrance to the Serbian, Czech and Hungarian market for at least two years.
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