Kopeika (supermarket)

Kopeika store in Yuzhnoye Butovo District.

Kopeika (Russian: Копейка, romanized: Kopeyka, lit. 'kopek') was a Russian retail chain that collapsed as a result of the Great Recession.

Kopeika was founded in 1998 with 38 stores.[1] The grocer gained wider prominence when it was taken over by the ill-fated Yukos oil giant in 2002.[2] On the latter's demise a controlling stake was sold to NIKOIL.[3] In 2006 50% was sold on to another local chain by which time there were 267 stores and 4 distribution centers.[4]

In 2010, Kopeyka was acquired by competitor Pyaterochka, part of the X5 Retail Group, for $1.65 billion.[5] By the end of 2011, 616 Kopeyka stores had been rebranded and 44 stores had been shut down.[6]

References

  1. ^ "Yukos Sells Its 50.5% of Kopeika". 2003-10-06. Archived from the original on 2007-10-24. Retrieved 2007-12-31.
  2. ^ "Moscow Times - Yukos take over". 2002-01-21. Retrieved 2007-12-31.[permanent dead link]
  3. ^ "RUSSIA: NIKOIL PICKS UP KOPEIKA". Archived from the original on 2006-03-15. Retrieved 2007-12-31.
  4. ^ "Reuteurs -Seventh Continent, X5 Bid for Russian Kopeika". 2006-12-05. Retrieved 2007-12-31. [dead link]
  5. ^ "ВЕДОМОСТИ - Цветков продал «Копейку»". Archived from the original on 2014-02-22. Retrieved 2014-02-14.
  6. ^ "Archived copy" (PDF). Archived (PDF) from the original on 2013-04-02. Retrieved 2014-02-14.{cite web}: CS1 maint: archived copy as title (link)

External links