Romanian home deco online retailer Vivre Deco, with EUR 10 mln of bonds listed at the Bucharest Stock Exchange (BVB), announced that it filed for insolvency on February 21, immediately after the pre-insolvency period expired.

Some of the creditors reportedly joined the action, Ziarul Financiar announced.

As the creditors failed to accept the recovery plans sketched by the company during the pre-insolvency procedures, chances are that the procedures will quickly result in the full-fledged bankruptcy of the company.

Since the company’s debt to a certain bank ranks high in priority, the bondholders are likely facing a beak prospect, Cristian Dutescu, a lawyer specialising in the capital market, explained for Ziarul Financiar.

andrei@romania-insider.com

(Photo source: Zerbor/Dreamstime.com)