PwC: PIC hypermarket in Pitesti taken over by Romanian investors

Unnamed Romanian investors recently took over the PIC hypermarket in the Romanian city of Piteşti, according to PricewaterhouseCoopers Business Recovery Services, judicial liquidator of PIC SA. The store is currently leased and operated by the retailer Succes Nic Com. The deal comes after a previously signed a pre-sale agreement with Nic, but the current buyers offered a higher price. This comes five months after another PIC hypermarket, the one in Oradea, was sold to the Maltese group Alf Mizzi & sons Ltd. "We are currently focusing on the sale of the other 3 former PIC hypermarkets. We see that the stores raise interest from both important local investors as well as international companies not present on the Romanian market. However, we haven’t yet reached an acceptable financial agreement for the other hypermarkets. We are nonetheless confident that we will soon sign new deals in this project”, said Cristian Răvăşilă, Senior Manager, Business Recovery Services Team Leader, PwC Romania. PIC SA entered bankruptcy in 2012 and still owns 3 hypermarkets in Brăila, Călăraşi and Craiova. editor@romania-insider.com