According to an announcement made at the beginning of August, 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.
Elefant ended the first half of 2023 with RON53 million revenue, compared with RON95 million in the same time in 2022, while losses remained flat at RON11 million, its first-half report shows. Operating expenses shrank from RON104 million to RON62 million.
(English version by Loredana Fratila-Cristescu)