The shareholders of the insolvent Pic hypermarket chain havedropped 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'sarrest (Cornel Penescu i.e.) and because of unfavourable marketcircumstances," said Ilie Penescu, co-owner of the Pic group inPitesti.
Cornel Penescu, financer of the FC Arges football team and co-ownerof the Pic group, and Liviu Facaleata - the company's formermanager - were released from prison at the beginning of the year,after nearly nine months under arrest, being charged with bribingfootball referees. They were arrested again in May, only a fewweeks after the announcement that Pic stores would reopen, but havein the meantime been released after their lawyers appealed thearrest.
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