Brothers Ilie and Cornel Penescu, owners of the Pic group inPitesti, have announced they will reopen two of the fivehypermarkets closed after the company filed for insolvency in2009.
"We reached agreement with some of our suppliers in order forthem to resume deliveries to Pic hypermarkets. We may reopen thestore in Craiova in June, and afterwards the one in Pitesti. Weintend to reactivate all five stores," said Claudia Rusu, marketingmanager of the Pic chain.
The Craiova and Pitesti stores, which were closed at thebeginning of this year, will be operated by a company set up inMarch, Muntenia Hypermarket SRL, whose shareholders are ValentinaPenescu and Dumitru Penescu, relatives of Penescu brothers,according to company representatives.
The announcement of Pic's relaunch on the retail market comes afew months after the appointment of a new legal administrator ofPic SA, PriceWaterhouseCoopers. The stores still have merchandiseon their shelves, so they could be reopened even if the retailer isnot able to resume collaboration with all its past suppliers.
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