INSOLVENCY
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CITR Appointed Legal Administrator for Bookstore Chain Diverta
CITR, the leading insolvency practitioner in Romania, part of Impetum Group, has been appointed judicial administrator for the Diverta bookstore chain owned by businessman Octavian Radu, whi...
Ten Largest Companies to Go Insolvent in 2021 Posted Almost RON2B Revenue Last Year
The ten largest companies in Romania to go insolvent in 2021 posted almost RON2 billion revenue last year and four of them even made profit.
Electricity Supplier Getica 95 Files for Insolvency
Getica 95, the biggest local energy supplier on the competitive energy market, has filed for insolvency at the local court in Buzau on June 15.
Romcab Targu-Mures Expects To Exit Insolvency End-2021
Insolvent fiber optic cable producer Romcab Targu Mures (MCAB.RO) expects to exit insolvency at the end of 2021, way before the deadline stipulated in the reorganization plan, considering th...
CITR: 2020 Insolvencies Were Fewer but Had Bigger Impact
Fiscal facilities and the closure of courts due to pandemic restrictions led to a 42% drop in high-impact companies that accessed insolvency, from 139 in 2019 to 80 in 2020), according to an...
Three Companies with over RON100M Revenue, 2020’s Biggest Insolvencies
Fast moving consumer goods distributor Bere Bauturi Bucuresti (whose customers included Heineken and Coca-Cola), Midocar (the first importer of Volkswagen and Audi in Romania) and wire maker...
PwC: Corporate Insolvency, Restructuring Stay Low In CEE Since Onset Of Pandemic, Except For Romania, Czech Republic
The number of corporate insolvencies and restructuring processes have stayed low in Central and Eastern Europe (CEE) since the onset of the COVID-19 pandemic, except for Romania, which saw a...
Over 50 Romanian Plants Risk Losing Orders due to Problems of UK Fashion Brands
Romania is one of the main European suppliers of the major British fashion brands Debenhams, Topshop, Dorothy Perkins and Wallis, which have announced store closures or filed for insolvency...
Number of Insolvencies Skyrockets in June
The number of insolvencies rose by up to 50% in June and July, compared with the year-ago period.