EMCC European Monitoring Centre on Change



Geographic Location

Country: Romania
Location of affected unit(s): Bucuresti (Bucuresti region) Cluj (Nord-Vest region)


Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
Number Employed: 1000
Group: Louis Delhaize

Employment Effects

Announcement Date: 20-04-2005
Type of Restructuring: Business expansion
Employment Effect Start: 01-07-2005
Foreseen End Date: 31-12-2006
Planned Job Creation: 1700

Additional Information

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.