Crisis in Wissol Group – Smart Supermarkets Close, Wendy’s Cutting Salaries

Crisis in Wissol Group – Smart Supermarkets Close, Wendy’s Cutting Salaries June 1, 2018Leave a comment

Philippe Peguilhan, Country Manager of Carrefour in Georgia and Soso Pkhakadze, President of Wissol Group have signed successful partnership agreement month ago

Wissol Group is probably the old business companies on Georgian market.

The business group of brother businessmen Soso and Levan Phkhakadzes currently unites the next subsidiaries: Wissol Petroleum Georgia, Air Wissol, Wissol Gas, Vianor Georgia, Wissol Gas Distribution Company, Smart network of supermarkets, Wendy\’s network of takeaway food restaurants, Villaggio development company and Alma advertising company.

Initially, Wissol Group owners took efforts on oil products market. In 2002-2006, this company was shaped beneath the Canargo Standard Oil brand name and starting 2006? the manufacturer of Wissol maintains unique put on oil products market. Wissol Group started active operation on oil products business in heavy times below the ruling of United National Movement. For the reason that period SOCAR appraised when the business of two presidents, GULF ascribed to Kezerashvili and Saakashvili and many other businesses accustomed to operate on the market and do high-income business on oil products market.? This is impossible without cooperation together with the ruling Authorities.

In that time all companies helpful to follow an agreed scheme and high tariffs were maintained artificially to increase huge revenues. Anyway, almost all these facts were proved following your regime changed, in the event the competition agency accused five key oil products companies which include SOCAR, Wissol, Lukoil, Gulf and Rompetrol of cartel collusion and imposed a 55 million GEL fine about them. And 10.4 million GEL fine was imposed on Wissol.

In those years Wissol Group and its owners employed to receive huge revenues. Following power change, when business was exempted from pressure, this company group owners thought we would invade untouched markets. As noted above, Wissol Group owns several subsidiaries, though the Group? chosen to particularly develop Smart network of supermarkets and Wendy\’s network of fastfood restaurants. All opening ceremonies of supermarkets or restaurants were kept in bustling atmosphere.

As the result, the team has opened 16 supermarkets of SMART and 10 take out restaurants of Wendy\’s. As per the statement from the management and owners, SMART would have been to become probably the most successful network of supermarkets, while Wendy\’s was to provide real competition with McDonald\’s that is still quite possibly the most favorite network in Georgia. However, developments went a number of way

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