Any potential withdrawal of a retail chain from Bulgaria will quickly be offset by the competition. Deputy Prime Minister Alexander Pulev said this amid the dispute between the government and “Kaufland Bulgaria”. According to him, the modern retail market is “sufficiently profitable and liquid”.
Pulev commented on a statement by the head of “Kaufland Bulgaria”, Mihail Petrov. Petrov earlier said that, in the event of the chain’s potential bankruptcy, the consequences would be so severe that “the collapse of KTB would seem like a spring breeze to us”, Novini.bg reports.
The Deputy Prime Minister advised Petrov to take into account the foreign investment statistics. Pulev pointed to a 100% increase in investment and said that he was confident about the market’s development.
The dispute follows a sanction of EUR 76 million imposed on “Kaufland” by the Commission for Protection of Competition. The chain has already stated that it will defend its rights in the case and challenge the decision in court.
Position of “Progressive Bulgaria”
“Progressive Bulgaria” has also issued a position on the matter. The political formation stated that the company’s size did not place it above the law and described the manager’s words as threats rather than arguments.
“No matter how big you are, you are not above the law,” the position of “Progressive Bulgaria” states.It also adds that the state must enforce the law in order to protect citizens’ rights, while the statements made, according to the formation, confirm the need for action by the supervisory authorities.
Sources: novini.bg