This is the second insolvency company acquired by CITR, after Arad-based Solve Insolve (western Romania) had been taken over in 2011.
According to the announcement, CITR plans to acquire other profile companies as well, in the context of continuing its development and expansion strategy countrywide.
The acquisition of Five SPRL’s portfolio triggered the opening of a new CITR unit in Galati (eastern Romania), which completes the company’s eight units across Romania, in capital Bucharest, as well as in Bihor, Brasov, Cluj, Ilfov, Satu-Mare, Sibiu and Timis.
To date, CITR has managed over 800 companies during the insolvency procedure through its eight units across the country.