According to a report in Russian daily Kommersant, Russian grocery retailer Pyaterochka Holding has decided to freeze prices paid to suppliers for goods until the end of September with a view to renegotiating supplier contracts.
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The move, the newspaper said, is a precursor to demanding lower prices from suppliers in light of its recent merger with supermarket chain Perekryostok. The combined entity is the largest food retailer in Russia.
Local reports also suggest that the retailer is increasing its number of outlets in the Moscow area. According to business daily Vedomosti, Perekryostock recently agreed to rent five additional Moscow supermarkets.
