site.btaUPDATED Government Endorses Establishment of State-Run Stores

The Council of Ministers endorsed the establishment of a sole-shareholder state-run company, called People’s Store, headquartered in Sofia. A decree was also adopted to approve budget amendments for the Ministry of Agriculture and Food for 2025, in connection with the creation of the company, the government information service said.

The main activity of the People’s Store chain will be the retail of food and industrial goods, allowed on the Bulgarian market, with a priority focus on products from Bulgarian producers. The company will also carry out auxiliary activities related to its core commercial function, as well as other legally permitted operations.

The company aims to ensure priority access to Bulgarian goods at affordable prices for consumers, promote socially oriented trade, especially in smaller towns and rural areas, reduce dependence on imported goods on the Bulgarian market.

In March, the National Assembly approved the creation of this state-owned commercial company, which will operate a chain of stores selling essential food products with a maximum markup of 10%. According to the adopted legislation, the company is to be established with a starting capital of BGN 10 million.

On July 23, the Council of Ministers did not consider the proposal to establish the People’s Store chain at its regular meeting and the item was withdrawn.

Later the Agriculture Ministry said that a Board of Directors of the People's Store chain, has been appointed. The Board will consist of three members:  Nikolay Petrov (representative of the state), Olga Stoyanova (representative of the state), and Ivaylo Marinov (independent member).

The first store is planned to open in Plovdiv.