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.
The Feldioara Uranium Concentrate Processing Plant (FPCU), owned by the state-owned company Nuclearelectrica, the operator of the Cernavoda nuclear power plant, will deliver nuclear fuel in the form of uranium dioxide (UO2) to Argentina, a first for the Romanian nuclear industry. The Uranium Concentrate Processing Factory (FPCU) Feldioara, a subsidiary of Nuclearelectrica (BSE: SNN), won […]
Romania’s isolationist Alliance for the Union of Romanians (AUR) has consolidated its leading position with 40% of voting intentions, according to an INSCOP Research poll conducted between October 6 and 10. The party’s support remains more than double that of the second-placed Social Democratic Party (PSD), which registered 17.6%. The governing coalition parties - PSD […]
Romania's Social Democratic Party (PSD), the largest in the ruling coalition, will hold its congress and implicitly elect a new president on November 7, announced the party's interim head, Sorin Grindeanu, who is at this moment the sole candidate for a full term, according to Ziarul Financiar. ...
The minister of investments and European projects, Dragoș Pîslaru, stated on October 13 that the milestone 215 in the National Recovery and Resilience Plan (PNRR) regarding special pensions has not been met and, therefore, the EUR 231 million funds have been suspended. He thus contradicted the Supreme Council of Magistracy (CSM) and defended prime minister […]
Recycllux is tackling marine plastic pollution with a platform connecting companies seeking to offset their plastic footprint with the local cleanup capacity. From the more than 400 million tonnes of plastic that are produced yearly worldwide, more than 10 million tonnes end up in lakes, rivers, and seas annually, UN data shows. As awareness of […]
The deficit of Romania’s trade in goods has contracted by 10% y/y to EUR 2.6 billion in August, marking the fourth consecutive month of negative annual dynamics. The deficit in 12 months to August eased to EUR 34.4 billion, down from EUR 35.7 billion calculated in 12 months to April. The trade deficit to GDP […]
