Lingerie And Swimwear Manufacturer Jolidon Goes Insolvent

06.19.2015 By Gabriela Stan

Romanian lingerie and swimwear manufacturer Jolidon, established more than 20 years ago by local entrepreneur Gabriel Carlig, went insolvent at the request of creditor J.I.E., according to Cluj courthouse.

According to Finance Ministry data, Jolidon Import Export reported debts worth RON256 million in 2014, fourfold higher than its sales.

In 2014, the company’s sales fell to RON64 million, from RON97 million a year before. Moreover, the company’s losses widened in the same period from RON3 million to RON99 million. At the end of 2014, Jolidon had over 1,000 employees.

During prosperous times, Jolidon had over 80 stores in Romania and was exporting its products to over 50 international markets.