News » January, 2011 » 11 January 2011
Billa closes Suceava store despite having signed 25-year lease
11.01.2011, 00:09 | Business | 1134 views
Billa supermarket network, part of Germany's Rewe, shut down its store in Suceava before Christmas, which had operated since November 2008 on a plot of land rented for 25 years from Suceava businessman Ioan Iftodi. "The closedown of Suceava store was strictly a business decision for an area with a weaker economic performance than forecast. The employees of Suceava subsidiary received the severance pays required by the law and also counselling for finding a new job. It is the first Billa store closed in Romania, for business reasons as I said. Like in Romania and the other countries, Billa is a stable and strong company," maintains Filip Cristescu, COO with Billa Romania. He did not specify the financial figures of Suceava store. Read more on ZF.ro
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