Owners of Romanian e-tailer Vivre close to accepting insolvency

The major shareholder of Romanian online retailer Vivre (with two bonds listed at the Bucharest Exchange) and the company’s most visible representative since the business turned from a success story into a troubled one, Calin Fusu, announced he no longer insists on the court prolonging the pre-insolvency procedure as the negotiations with the bondholders failed, Ziarul Financiar reported.

The company raised EUR 10 mln with two bond issues, with the bonds later listed at Bucharest Stock Exchange (BVB).

The court should rule on closing the preventive arrangement procedure on February 17.

Creditors will most likely ask the retailer to enter insolvency unless the company asks for insolvency itself.

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