Bakery chain Fornetti Romania, which has filed for insolvency in 2011, has fulfilled its obligations to the lenders, banks and partners included in the reorganization plan, according to its statement.

The judicial administrators will propose closing the insolvency procedure in the next eight months, reports local Mediafax.

The company estimates that it will increase its sales by 15% this year and will invest in modernize its stores.

Last year, the bakery chain managed to stay on profit, and posted a EUR 22 million turnover. The company has 400 employees.

editor@romania-insider.com