Location of affected unit(s):
Bucuresti (Bucuresti region)
Cluj (Nord-Vest region)
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
Type of Restructuring:
Employment Effect Start:
Foreseen End Date:
Planned Job Creation:
After one and a half year since the opening of its first hypermarket in Romania, Cora (Bucharest, Bucharest region) announced it will open new stores in the country. The second Cora store will be opened in the third quarter of 2005, totalling 40 million investment and creating around 1,000 new jobs. Another 700 employees will be hired in 2006, following investment of 25 million in a third store in Cluj (Centru region).
Even if Cora is still not making a profit from its activity, the annual growth rate for sales is 30% and the company plans to open at least one store a year, with the first profits set to emerge as late as four to five years from now.
Cora is part of the French group Louis Delhaize, totalling more than 81 stores in France, Luxembourg, Belgium, Hungary and Romania. The group also owns the Profi discount chain in Romania and decided to set up a joint acquisition centre for both market operators.