The operator of the Diverta bookstores chain, which posted a turnover of EUR 21 million last year, expects to at least maintain this level for this year, according to Casa de Insolventa Transilvania, the judiciary administrator of Diverta.

The retail chain, currently in insolvency, reduced its operating costs by 35 percent in 2010, by renegotiating rent, reducing fixed costs and moving the headquarter in its own buildings. Diverta also closed 13 stores last year and opened other two.

Currently Diverta has 50 stores and in 2011 it aims to open new stores, the decision depending on rent level and traffic scale. Diverta is currently working with Casa de Insolventa Transilvania at a network reorganization plan, which could be submitted in early May 2011. Diverta is part of the RTC holding, owned by Romanian investor Octavian Radu.

According to Casa de Insolventa Transilvania, the book market in Romania registered a downward trend in 2010, down around 15 percent compared to 2009.

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