Penescu brothers drop plans to reopen Pic hypermarkets
The shareholders of the insolvent Pic hypermarket chain have
dropped the plans to reopen stores in Craiova and Pitesti,
announced two months ago.
"We are currently in a wait-and-see mode because of my brother's
arrest (Cornel Penescu i.e.) and because of unfavourable market
circumstances," said Ilie Penescu, co-owner of the Pic group in
Pitesti.
Cornel Penescu, financer of the FC Arges football team and co-owner
of the Pic group, and Liviu Facaleata - the company's former
manager - were released from prison at the beginning of the year,
after nearly nine months under arrest, being charged with bribing
football referees. They were arrested again in May, only a few
weeks after the announcement that Pic stores would reopen, but have
in the meantime been released after their lawyers appealed the
arrest.