The German diversified discount retail chain Penny Market opened its first batch of 14 stores in Bulgaria, a press company release said.
The stores are in Sofia, Veliko Turnovo, Rousse, Vratsa, Radomir, Lovetch, Nova Zagora, Botevgrad, Svilengrad, Knezha, Novi Pazar, Pavlikeni and Dobrich. The company has said that 20 more stores are poised to open for business by the end of 2009 and by the end of 2010 there will be a total of 50 stores operating in the country.
Penny Market, a division of retail giant Rewe, is based in Germany, operating in nine countries in Central and Eastern Europe. Rewe Group is already represented in Bulgaria through discount retail chain Billa.
Another German discount chain, Plus, part of Tengelmann Group, has opened six stores in Sevlievo, Harmanli, Pernik, Silistra and Gorna Oriahovitsa. The company has similar plans for extension in the country as Penny Market, with 25 stores planned for the end of 2009 and 50 by the end of 2010, Dnevnik daily reported on November 16.