Four PIC hypermarkets are to be taken over by the Succes NIC COM retail network, which will pay for them in monthly installments over the next three years, according to a reorganization plan approved by creditors and confirmed by the bankruptcy judge.
Succes NIC COM company belongs to the businessman Nicolae Sarcina.
Pic has already rented its stores in Pitesti and Craiova and reopened them under the Succes brand. The hypermarkets in Oradea and Calarasi will soon follow suit.
The Pic hypermarkets, which are owned by businessmen Ilie and Cornel Penescu, entered insolvency in November 2009, after running up debts worth €76 m.
