PIC is the name of a powerful Romanian food retail network of 15-20 years ago, which went bankrupt.
“La Cocos will open its fifth store in Pitesti in the former PIC location. The store was acquired with the aid of a banking loan granted by OTP Bank, worth EUR5 million. Thus, La Cocos earmarked an investment budget of around EUR16 million in 2024 for the opening of two new stores, of which EUR5.5 million for the fourth hypermarket” says Iulian Nica.
The rest of around EUR11 million will represent the investment in the fifth store of La Cocos netwok, set to be opened in the second half of 2024, in Pitesti.
“These investments are part of the development plan envisaging the expansion of the network with another five new units in four cities of Romania by end-2025,” adds Iulian Nica.
(English version by Catalina Apostoiu)