Bakery chain Fornetti Romania has filed for insolvency, according to data published on the official website of the Timis Court. The hearing is set for March 29, 2012.

Last year Fornetti Romania reported a turnover of EUR 21 million, down from around EUR 28 million posted in 2009. The company ended 2010 with losses of EUR 0.6 million, after a reported EUR 1.5 million profit in 2009.

Fornetti Romania was established in 2002 as master-franchise of Fornetti Kft. headquartered in Hungary. The company currently has 540 employees and 800 stores across the country.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Fornetti.ro)