Major Romanian electro-IT retailer Altex, which operates physical stores and an online store that hosts third-party sellers, purchased for an unspecified price a EUR 4.6 mln claim held by Banca Transilvania against insolvent online retailer of furniture and home decoration goods Vivre Deco, Wall-street.ro reported.

Altex has expanded its activity in recent years to new product categories, including furniture, DIY, automotive products, toys, beverages and sanitary products.

Vivre, known for selling affordable furniture and decorations through the online platform vivre.ro, would further diversify the range of products provided by Altex.

The new creditor plans to further invest in Vivre and help it recover from the current financial situation.

"We can help the company get out of insolvency to the extent the current management wants this too. We are open and flexible, but especially we are interested in identifying the best solutions, consistent with the strategic and financial objectives of the company," says Dan Ostahie, CEO and founder of Altex Romania.

iulian@romania-insider.com

(Photo source: Cristi Croitoru/Dreamstime.com)