EMCC European Monitoring Centre on Change

Carrefour

Company/Organisation:
Carrefour

Geographic Location

Country: Bulgaria
Region: Sofia (stolitsa); Yugozapaden; Yuzhna Bulgaria
Location of affected unit(s): Sofia, Bulgaria

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
46.19 - Agents involved in the sale of a variety of goods
Group: Carrefour

Employment Effects

Announcement Date: 18-07-2006
Type of Restructuring: Business expansion
Employment Effect Start: 01-01-2008
Planned Job Creation: 2300

Additional Information

Carrefour, the biggest retail chain in Europe will invest 81.6 million Euro in Bulgaria till 2008 to build its first shopping centre in the country. The executive director of Carrefour for Bulgaria Mr Gerom Lober announced this at a meeting with the Minister of economy, when Carrrefour got a certificate for being a "first class investor". The future hypermarket will offer a sales area of 20,00 sq.m. and some 70,000 sq.m. will be built for the merchant centre, which will follow the concept of shopping malls. Between 60% and 70% of the traded goods will be food products. More than 95% of those will be produced in Bulgaria, said Lober. The remaining 30% will be for other products, both produced in Bulgaria and imported. The management of Carrefour in Bulgaria intends to develop a net of stores in Sofia and to build more in some of the biggest towns in the country, said Gerom Lober. The project of Carrefour in Bulgaria will be the biggest project of this kind on the Balkans.