The plan stretches over a three-year interval and it involves the continuation of activity, maintaining current employee numbers, the launch of new stores and the continuation of online commerce activity, the liquidator said in a news release.
The reorganization plan is aimed at paying a total 9.7 million lei (EUR2.32 million) to creditors. According to the debts chart, liabilities cumulate RON39.3 million.
In 2010, the company posted sales of RON36.7 million. For this year, the company plans to launch one store, close two units, thus reducing staff and rental costs.
Mexxem was founded in 1995 and, between 2001 and 2007, it has launched 41 stores nationwide. Upon the launch of insolvency procedures, in September 2010, the company’s network included 24 units, mostly under the Stone Creek brand. Later, the network was reduced to 20 units. (EUR1=RON4.1719)