CFR set to double investment allocation

Central Food Retail Co (CFR), the operator of Tops Market, Central Food Hall and Tops Superstore, looks set to double its investment budget this year to accelerate its store expansion after seeing clearer signs of recovery.

Sujita Phengoun, the company’s chief operating officer for large-format branches, said that the company plans to spend 675 million baht to open 15 new large-format stores for Tops Market this year, compared to only seven and eight new stores opened in 2020 and 2021, respectively. With this investment plan, the total number of large-format Tops supermarkets will reach 123 branches by the end of this year.

However, half of the new Tops Market outlets to be opened…