The company posted RON127 million revenue in 2020, significantly lower than the RON204 million of the previous year and RON3.5 million net loss, compared with RON0.84 million net loss in 2019.
Total debt stood at RON14 million at the end of 2020, lower than in the previous year, while equity capitals stood at minus RON4 million, Finance Ministry data show. The average number of employees was 73 in 2020, down from 103 in 2019.
The company officials have not returned ZF’s call for comment on the reasons for insolvency by the time the story was posted.
The terms and conditions on the cel.ro website show the online store is now operated by a new company, SC Brand Design Team SRL established in 2017 and held by Alexandru Victor Morus – 10% and Tiberiu Pop – 90%. Brand Design Team posted a surge in revenue to RON42.7 million in 2020 from RON0.241 million in 2019, as well as RON2 million net profit compared with RON0.13 million the previous year.
Information about the filing for insolvency of the cel.ro online store operator was published on supervisor.ro first.
(English version by Loredana Fratila-Cristescu)