The Bulgarian government has approved the creation of a wholly state-owned joint-stock company, formally described as a sole-shareholder entity with state participation, to operate a new retail chain called Magazin za Horata (“Store for the People”). The aim is to provide priority access to affordable Bulgarian goods, particularly in smaller towns.
It is expected that the chain will reduce the market’s reliance on imported products. The company’s capital will total 10 million leva (approximately 5 million euros).
According to reporter Mira Stefanova, DPS-New Beginning leader Delyan Peevski proposed the idea for a network of stores offering cheap Bulgarian food products earlier this year.
The first store in the new chain is expected to open in Plovdiv, Bulgaria’s second-largest city, in September.
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