Leonardo, which opened its first store in 1994, in Oradea, western Romania, has 98 stores countrywide, of which 12 are in capital Bucharest.
In the second half of 2009 the company had debts of EUR100 million and entered insolvency citing lack of demand on the domestic market and declining sales.
The year before entering insolvency, in 2008, the retailer had over 200 stores in the main urban areas in Romania, Hungary, Bulgaria, and the Republic of Moldova, over 3,000 employees and a turnover of RON500 million.
In 2012, Leonardo had a turnover of RON219.7 million, a loss of RON27.7 million, and had around 1,100 employees.
Leonardo’s main competitors are German retailer Deichmann and Polish retailer CCC.
Leonardo is owned by Oradea-based businessman Florin Panea.