Bosnian retailer Bingo is planning to take over several supermarkets formerly owned by Slovenia's Tuš, according to a statement by the Competition Council of Bosnia and Herzegovina.
Tuzla-based Bingo plans to acquire Tuš supermarkets in Tuzla, Sanski Most, Prnjavor, Ugljevik, Mostar and Istočno Sarajevo.
Due to economic problems and an unstable business environment, Tuš closed the 20 or so stores it had in Bosnia and Herzegovina at the end of last year. According to Bosnian media reports, Tuš still owes local suppliers around BAM 20 million (€10 million).
The EBRD is known to be considering providing up to €21 million to support Bingo’s further market expansion.
Bingo is currently the second largest food retailer in the country, after the merged company Konzum/Merkator, with around 100 stores located in 40 municipalities.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic