Real estate prices slow down Gregory's expansion

The Greek fast food chain Gregory’s intends to extend its network by two outlets by the end of October, following an average investment of approximately 100,000 euros per outlet, and by the end of the year, the company representatives plan to open another one. Under the circumstances, the chain operating under the Gregory’s brand will reach 13 outlets by the end of the year, one less than initially announced by company representatives. “Unfortunately, due to the situation on the real estate market, we have not been able to secure contracts for all four outlets this year, so we intend to open just three outlets by the end of this year, instead of four,” said Cristian Mesaros, general manager of Gregory’s Romania. The main problem facing retailers such as Gregory’s is the long delay in the completion of real estate projects. “They are planned, but they have yet to be delivered. Additionally, the shortage of space has led to increased competition among those wishing to be present in a particular office building,” added Mesaros.