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NewsLidl Montenegro increases registered capital to EUR 23.5 million as expansion plans...

Lidl Montenegro increases registered capital to EUR 23.5 million as expansion plans take shape

On March 16, the Podgorica-based company Lidl Montenegro, which will manage the planned chain of stores for the well-known German discount retailer, increased its registered capital to EUR 23.5 million, according to the Investitor.me portal.

This represents an increase of two million compared to the previous amount.

According to the company registry, the primary activity of Lidl Montenegro is currently “buying and selling of own real estate,” indicating a focus on securing locations for its stores and distribution center.

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The founder and 100% owner of the company is the German WE-International Zweite GmbH, also the founder of Lidl in neighboring Bosnia and Herzegovina, where business operations are expected to commence soon.

Earlier announcements suggested that Lidl could open a chain of around 20 stores throughout Montenegro, creating approximately 1,000 new jobs, with initial projections indicating this could happen by the end of 2023. However, it is now clear that this will not be the case, given the current pace of real estate acquisition.

Lidl Montenegro has so far acquired ownership of three properties – two in Podgorica and one in Nikšić, reportedly spending over EUR 17 million on these acquisitions, according to information from Investitor.

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