Gregory’s posts turnover in 2007 worth €3.7 mln

According to General Manager Cristian Mesaros, the company did not post a profit in 2007. Business Standard estimates that turnover could increase by some 12 percent this year.

Its investments in Romania have increased by over €2.5 mln. The company has invested some €150,000 in 2007. “Significant investments were made to open our North Center location, and a new location. An important investment was the renovation of the Gara de Nord [Ed.n.: Bucharest central train station] location,” said Mesaros in a statement for Business Standard.

There are nine Gregory’s locations in Romania. A further restaurant will be opened in March. According to Mesaros, the company has 110 employees and will increase this number following expansion.

Apart from the Gregory’s brand, the company also owns the Coffeeright coffee shops, located only inside Gregory’s restaurants.

Gregory’s targets medium and upper middle class clients. Its main competitors are Spring Time, Snack Attack, Bonjour and McDonald’s, while Coffeeright’s competitors are Starbucks, Gloria Jean’s and Turabo.

The Romanian fast-food market is estimated at €1.5 billion.