Established in 2022, INFINEXA manages assets worth over EUR130 million and acts as insolvency administrator for companies like Blue Air, Vivre Deco, Hidroconstructia.
“Our strategy involves a capital infusion from the new shareholder, the operational restructuring of the company, and the realization of non-essential assets for the reorganization plan. Moreover, the change of shareholders has already laid the groundwork for a successful reorganization, and we are making every effort to maximize the recovery of debts, ensuring the continued presence of the Angst brand, a name with tradition in the Romanian meat industry,” stated Radu Tudor, Senior Partner at INFINEXA Restructuring. Angst Ro SRL entered insolvency on March 29, 2024, at the request of creditors Abatorul Peris and Primo Mix Food. Abatorul Peris is a business held by Jabbar Kanani, the founder of Agricover. Abatorul Peris is one of the largest pork producers, with a RON343 million turnover in 2022. Primo Mix Food is held by local entrepreneurs, having as core activity the manufacturing of other food products. The list of creditors also includes Monceanu Inocasings, Kemn Pack Srl, S.T. Management SRL, Directia Generala Impozite si Taxe Locale a Sectorului I (the General Division of Local Taxes and Duties of Bucharest’s district I), Marsal Production Group, Motoractive IFN S.A and Directia Generala Impozite si Taxe Locale a Sectorului 5 (the General Division of Local Taxes and Duties of Bucharest’s district 5). Angst Ro is currently in the observation phase, with the judicial administrator set to propose a reorganization plan. Founded three decades ago, Angst is one of the main players in the local meat industry, with over 170 employees and a network of its own food stores. In the first half of 2024, 432 companies in the manufacturing industry filed for insolvency, compared to 385 in the same period last year. Among them, 20 companies in the food sector, dealing with meat processing, preservation, and meat product manufacturing, have filed for insolvency proceedings, with seven currently undergoing the procedure.
Companies
INFINEXA Restructuring-Prime Insolv Practice Association Appointed Insolvency Administrator For Meat Processor Angst
The Ilfov Court has appointed INFINEXA Restructuring, a Romanian entrepreneurial company specializing in the restructuring of distressed firms, to act as insolvency administrator for meat processor Angst which has been insolvent since March 2024, in consortium with Prime Insolv Practice SPRL.