Romanian Retailer Opens Former PIC Store Under Succes Brand
The PIC hypermarket in southern Romanian city Craiova was relaunched Thursday under the Succes brand, after Succes Nic rented two stores from bankrupt PIC, PIC's court-appointed administrator PricewaterhouseCoopers said in a news release.
Retail chain operator PIC, owned by businessmen Ilie and Cornel Penescu, is managed by PricewaterhouseCoopers Business Recovery Services IPURL since March 2010, after going insolvent at the end of 2009.
“This reopening of the Craiova store is in line with PwC’s reorganization strategy for PIC, capitalizing the assets of the company. We won’t stop here though. We are currently in negotiations for the reopening of the other former PIC stores as well”, stated Marius Zidaru, Director, Business Recovery Services Leader, PwC Romania.
Succes Nic, owned by businessman Nicolae Sarcina, rented the former PIC spaces in Craiova and Pitesti. The latter was launched as a Succes store in fall this year.
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