Electro Distribution, one of the largest distributors of smartphones, tablets, gadgets and accessories on the Romanian market, went bankrupt and will be liquidated.

The company, founded by Romanian investors Angela and Tudor Tiboc, had total debts of EUR 7.4 million at the end of 2017, according to official data from the Finance Ministry, cited by local Profit.ro. Last year, it had a turnover of EUR 35 million.

Electro Distribution also used to operate Quickmobile.ro, one of the biggest online gadget retailers in Romania, but the business was moved to another company owned by the Tiboc family.

editor@romania-insider.com