The Romanian online furniture and home decorations retailer Vivre Deco announced on September 7 that it agreed to initiate the preventive conciliation procedures asked by two of the company’s creditors as a measure to protect and recover the business.

Vivre’s main shareholder (52%), Neogen, will extend by EUR 1 mln its EUR 2.5 mln credit line during the recovery period.

The company reported losses of RON 18.6 mln in H1 after RON 84 mln losses in 2021.

This initiative allows the continuation of business restructuring measures with a view to recovery.

Vivre’s bonds listed on the Bucharest Stock exchange were traded at one-third of their face value - a 10% daily decline - after the company’s statement. 

(Photo: Nitinai Saguansri/ Dreamstime)

andrei@romania-insider.com