Billa supermarket network, part of Germany's Rewe, shut down itsstore in Suceava before Christmas, which had operated sinceNovember 2008 on a plot of land rented for 25 years from Suceavabusinessman Ioan Iftodi.
"The closedown of Suceava store was strictly a business decisionfor an area with a weaker economic performance than forecast. Theemployees of Suceava subsidiary received the severance paysrequired by the law and also counselling for finding a new job. Itis the first Billa store closed in Romania, for business reasons asI said. Like in Romania and the other countries, Billa is a stableand strong company," maintains Filip Cristescu, COO with BillaRomania. He did not specify the financial figures of Suceavastore.
The land the store was built on was rented over a 25-year period,but Cristescu did not specify the value of the deal or thecompany's plans as regards the destination the space filled by thestore will have.
Suceava is the Romanian city with the highest density of modernshopping spaces. Four companies have in recent years built over100,000 square metres for the around 100,000 inhabitants of thecity, so that density has rapidly reached one square metre ofretail per capita, higher than in Bucharest and similar with thatof Prague or Warsaw.
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