Bucharest Court To Rule On Carrefour Romania Insolvency Appeal On Jan 15

01.06.2014 By Cristina Roşca

Bucharest Court will rule on January 15 on Carrefour Romania’s appeal against the insolvency decision made at the request of one of the company’s suppliers, at the end of 2013.

The insolvency request was submitted by company GSL Logistic, a Bucharest-based distributor of diapers and accessories for children and adults.

According to sources close to the company, debts of Carrefour Romania to the supplier amount to around 800,000 lei (EUR170,000). At lawyers’ request, Carrefour has already paid the debt and has asked for the insolvency ruling to be suspended.

Carrefour Romania, which has 25 hypermarkets in Romania, ended 2012 with turnover of EUR962 million and a net profit of EUR23 million.

GSL Logistic has 8 employees, a turnover of RON1.7 million in 2012, down 15% against the previous year, and a profit of RON12,800, according to data published by the Finance Ministry. (EUR1=RON4.4947)

(English version by Gabriela Stan)