The plan was approved by the company’s creditors in December 2020 and approved by a judge on February 18, 2021, Romcarbon said in a statement Wednesday.
The company, which has a stock market capitalization of RON17.6 million, would return to trading with debts totaling RON151.5 million following reorganization or with debts of RON138.4 million in case of bankruptcy.
Romcab said it plans to pay around RON0.4 million of its debts in the first year after the approval of its reorganization plan and the remaining RON151 million would be paid in the third year.
Romcab ended 2020 with a loss of RON70 million, down by 50% compared with 2019, and total revenues of RON892.3 million, double compared with 2019. The company is 69% owned by Sadalbari SRL based in Targu Mures.