Cabinet Approves the Establishment of a "Store for the People"

The Council of Ministers has approved a resolution to establish a single-member joint-stock company with state participation in the capital – "Store for the People", headquartered in Sofia. A decree was also adopted to amend the budget of the Ministry of Agriculture and Food for 2025 in connection with the formation of the company, according to a government press release on August 6.

The core activity of "Store for the People" will be trading in food and industrial goods that are authorised for sale on the Bulgarian market, with priority given to products from Bulgarian producers. The company will also engage in ancillary activities related to its main commercial function, as well as other activities not prohibited by law.

The company aims to ensure priority access to Bulgarian goods at affordable prices for consumers; promote socially oriented retail, especially in smaller and rural settlements; reduce the market’s dependence on imported goods.

In March, the National Assembly approved the establishment of a state-owned joint-stock company, which will operate retail chains selling essential food products with a markup capped at 10%. As per the adopted provisions, the company will be established with an initial capital of BGN 10 million.

The initiative was first proposed earlier this year by Delyan Peevski, leader of MRF – New Beginning.

The retail chain was included in the 2025 state budget, and the stores are expected to operate within existing commercial properties of the Central Cooperative Union's organisations.

An earlier attempt in July to pass the decision through Cabinet failed, reportedly due to "divergent opinions among the ministers".