Casa Rusu, one of the oldest furniture manufacturers and retailers in Romania, enters insolvency through a simplified procedure, according to a decision taken by the Timis Court. The Rus Savitar Group – Casa Rusu was founded in 1994 by the Rusu family, which is also the owner of Rus Savitar SA, the company through which they produce furniture, and at the same time the creditor in this process through which Casa was declared insolvent through a simplified procedure Rusu SRL. In 2019, the Rusu family sold the business to the Greenbridge investment fund, to buy it back in 2023. “The solution in short: Accept the request. Open the simplified insolvency procedure against the debtor. The Banta? Romana – Diana Individual Insolvency Cabinet is appointed provisional judicial liquidator”, the court’s decision states. The legislation provides that “the simplified insolvency procedure represents the insolvency procedure through which the debtor who meets the conditions provided by law enters directly into the bankruptcy procedure, either with the opening of the insolvency procedure, or after an observation period of a maximum of 20 days, during which analyzes the fulfillment of the legal conditions”. According to listafirme.ro, CASA RUSU SRL had a turnover of just over 65 million lei in 2023 and losses of 7.4 million lei, with an average number of employees of 142. The turnover is 11 million lei lower than in 2022, when the company had 246 employees and recorded similar losses. In 2016, it recorded the highest profit, i.e. just over 3 million lei, on a turnover of 75 million lei. In 2023, another Romanian online furniture retailer Vivre, founded in 2013, entered insolvency.
More than one in three children in Romania, roughly 1.25 million, live in poverty, and the percentage rises dramatically to 75.8% for those whose parents have a low level of education, according to 2024 Eurostat data cited by Save the Children Romania. Children in rural areas face a much higher risk of poverty or social […]
Wizz Air has expanded its base at Timișoara International Airport, in western Romania, by adding a third aircraft and launching five new routes this month. The expansion marks another milestone for the carrier, which has transported more than nine million passengers to and from Timișoara since beginning operations there in 2008. Starting this week, passengers […]
Tech giant Apple announced a major expansion of its clean energy projects across Europe with new large-scale solar and wind farms under development in Romania, Greece, Italy, Latvia, and Poland. The local project is located in Galați County. Together with a newly operational solar array in Spain, the projects announced on Tuesday, October 14, will...
Romanian president Nicușor Dan argued that there is a lot of room for new American investments in areas such as energy or artificial intelligence in Romania in an interview given on Monday, October 13. The head of state said that foreign investments increase Romania’s economy and are generally beneficial to long-term growth. “There is a […]
British rock icons The Cure and American duo Twenty One Pilots will headline the 2026 edition of Electric Castle, one of Romania’s largest music festivals. The event will take place on July 16–19 at Banffy Castle in Bonțida, near Cluj-Napoca. Festival passes are available on the event’s website, with early bird prices offered through midnight, […]
Romanian prime minister Ilie Bolojan attended the launch of a new Mercedes-Benz assembly line for propulsion units on Monday, October 13, in Sebeș, central Romania. The new line will service fully-electric GLC models produced by the German carmaker. The new high-tech production line has a 15,000-square-meter assembly line, over 1,000 meters in length, and more […]
