PIC hypermarket in Pitesti leased to Succes

Newsroom 02/08/2011 | 12:16

PwC has been appointed judicial administrator of PIC hypermarket which has signed a lease agreement with Succes Nic COM. This marks the entering of Succes Nic COM on the large retail segment, using its experience gained in managing 120 stores in the supermarket and minimarket segments. Succes NIC COM already owns facilities in bakery production, meat processing and transportation, used to supply its stores.

“Through this lease agreement, PWC has made a decisive step forward in implementing the reorganization strategy of the former PIC S.A. retail network, strategy which will be made public this autumn and which will explain in detail the means to capitalize on the PICS group’s asset in the interest of the creditors and of the employees”, stated Marius Zidaru, Business Recovery Services Leader, PwC Romania.

The lease agreement concerns only one hypermarket of the former PIC network, while for the shops in Craiova, Calarasi, Braila and Oradea a number of options are being taken into consideration at the moment.