Romania’s Delta Distribution To Close Six Stores, To Lay Off 100 in 2009 – Media

"We will close six shops in Arad, Oradea, Baia Mare, Galati si Targu Mures, where we are not successful because we entered there too late," Ziarul Financiar quoted Delta Distribution president Dragos Bonea as saying.

"The market was developing very well until September but it has entered a very strong downward trend lately," Bonea said.

He added that due to unfavourable market conditions the company’s turnover this year will remain at last year’s level and will fall in 2009.

The company's turnover rose by 50% to 45 million euro ($64 million) last year.

Bonea added that the company will open a Delta Concept Store in the Romanian capital by the end of 2008, following a six million euro investment.

Delta Distribution, set up in 1996, has 28 stores and 18 storage facilities in Romania. It employs more than 500 and works with more than 30 local and foreign producers. Its main competitors are Ambient Sibiu, Dedeman Bacau and Tiger Amira.

($=0.7086 euro)