The Sibiu court upheld the company’s request for insolvency submitted late August.
According to the court’s website, Ambient’s creditors are Alpha Bank Romania, BCR, Piraeus Bank Romania, Mitliv Exim SRL, Ax Perpetuum Impex SRL, DAW Benta Romania SRL, Köber and Betak.
Ambient said at the beginning of September it had filed for insolvency after failing to attract the funds needed to finance its working capital.
Ambient’s turnover fell 20.7% to RON497.7 million in 2014, from RON627.5 million a year before, and the company switched to a loss of RON32.3 million from a profit of RON37.4 million the year before.
Ambient had an average 1,276 employees in 2014. Its competitors on the Romanian market are do-it-yourself retailers Kingfisher, bauMax, Dedeman, Hornbach, Mr. Bricolage, Praktiker and Leroy Merlin.
Ambient operates a 12-unit network, mainly in the central Romanian region of Transylvania.