K Tech Ultra Pro goes bankrupt, to be dissolved in fall
IT&C retailer K Tech Ultra Pro, which had previously entered insolvency and tried to reorganize to escape bankruptcy, has ended up bankrupt and will be dissolved by October this year, as the court has decided. The retail has accumulated EUR 28 million in debt to 84 companies, out of which EUR 3.5 million to Banca Romaneasca. The judiciary administrator, BDO Business Restructuring will put Ultra pro's assets for sale, which will mainly go to cover the bank loan. BRD and Bancpost are among the other lenders on the creditors list.
K Tech Ultra Pro, which used to be the biggest IT&C retailer in Romania a couple of years ago, was set up in 1997 by Romanians Alina and Cristian Fughina.