Local wine producer Murfatlar is officially insolvent, after the Constanta court approved its insolvency request. “The slow money recovery rate, the general characteristic of the business environment during this period, triggered the lack of liquidity, which makes it difficult to pay existing debt,” indicated the company.

Murfatlar ended 2011 with a turnover of EUR 43.7 million, up 32 percent on the year before. The producer is controlled by the Dobronăuţeanu family and competes with other producers such as Cotnari, Jidvei, Vincon Vrancea and Cramele Recaş.

editor@romania-insider.com