Walltopia Founder: 'We Are Done with Bulgaria' as Rising Labor Costs Push Business to China
Ivaylo Penchev, entrepreneur and founder of Walltopia, declared that Bulgaria is no longer a viable location for his company due to high labor costs. Speaking to Nova TV, Penchev explained that workers in Bulgaria are now paid more than in Spain, prompting the company to shift operations toward China. Walltopia employs over 2,000 people across 80 countries, with major branches in Bulgaria and the United States.
...