Debts that matures in up to one year stand at RON83 million while debts that mature in more than one year stand at RON36 million.
At the end of January 2024, Ekefant filed for insolvency with the Bucharest Court of Law, expressing intent to propose a reorganization plan and keep the right to manage its operations.
According to an announcement made at the beginning of August 2024, Miller Centre SRL, currently run by entrepreneurs Dragos and Gheorghe Comaniciu, co-founders of local dairy producer Delaco, filed a petition requesting Elefant’s insolvency with the Bucharest Court of Law. The retailer at the time said the petition had no object because the receivable Miller Centre had against it was below the required minimum threshold.
In November 2021, Elefant carried out a private bond placement worth nearly RON17.5 million, at a fixed annual interest of 9%, payable half-yearly. This was the retailer’s second bond issue, after the RON7.7 million issue carried out in 2018, which reached maturity.
in May 2023, Elefant announced that Millennium Gold Resources Limited and Catalyst Romania SCA SICAR had signed a contract through which they would transfer their ownership stakes of 58.84% and 9.62% of the share capital, namely, 44 million shares, to Evolution Prest Systems. In November 2023, Elefant announced that the two shareholders gave up finalizing the transaction. Millennium Gold Resources Limited is a Cyprus-based offshore entity active in Romania through several companies and controled by Ion Sturza, a former prime minister of the Republic of Moldova and the one who launched retailer Elefant on the local market, back in 2010.