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 Arts Hour on Tour, the BBC World Service arts and culture program that visits cities all over the world, will be in Bucharest next week to record a show on topics relating to the cultural life in the city and Romania. Television and radio broadcaster Nikki Bedi, who curates, writes, and presents the program, […]
Romanian prime minister Marcel Ciolacu recently stated during an interview that foreign minister Emil Hureaznu will be replaced if he continues to send messages to private individuals, such as those addressed to Elon Musk, without consulting him. The warning comes after Emil Hurezeanu stated on Saturday, February 22, that Elon Musk’s support for Călin Georgescu […]
Romanian state-controlled gas producer Romgaz (BVB: SNG) reported a net profit of RON 3.22 bln (EUR 647 mln) in 2024, up 14.5% compared with the previous year. The company’s revenues went down by 11.9% to RON 7.93 bln (EUR 1.6 bln) because of lower...
The Romanian Parliament rejected the no-confidence motion initiated by far-right parties AUR, SOS Romania, and POT against the government led by Social Democrat prime minister Marcel Ciolacu. The motion received 147 votes in favor and one against during the lawmakers' meeting on Friday, February 28 - a figure lower than the 155 signatures with which […]
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profit of RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year. The company recorded 37.6% lower revenues from electricity sales due to lower average...
In his first press conference since becoming interim president, held on Friday, February 28, Ilie Bolojan said that discussing peacekeeping troops in Ukraine is premature, since no peace agreement was reached. He also discussed increasing Romania’s defense spending, the relationship with the United States, and the reconstruction of Ukraine. The press conference was organised after Ilie […]
