Ambient said in a statement that throughout the process of financial restructuring and business revival over the last four years, conducted under the coordination of specialized consulting firms, it has failed to attract the funds needed to finance its working capital.
The judicial reorganization procedure started at the company’s request in order to protect its patrimony by implementing a unitary and efficient framework for the unfolding of its activity and to continue its business operations by maintaining the entire portfolio of clients.
Ambient’s turnover fell 20.7% to RON497.7 million in 2014, from RON627.5 million a year before, and switched to loss, posting a negative result of RON32.3 million, compared to a profit of RON37.4 million a year ago, according to company data available on the Finance Ministry’s website.
Ambient had an average 1,276 employees in 2014.
Ambient’s competitors on the Romanian market are do-it-yourself (DIY) retailers Kingfisher, bauMax, Dedeman, Hornbach, Mr. Bricolage, Praktiker and Leroy Merlin. Ambient operates a 12-unit network, mainly in the region of Transylvania.