Bam boo stores chain insolvent, starts reorganization

Romanian Andromede Decor, the owner of gift and home decor retailer bam boo, has entered insolvency procedures in order to reorganize its activity. We started reorganization procedures in order to adapt our business to the realities of the current economy," according to Philippe Eustratiades, manager at Andromede Decor. In order to continue its activity more efficiently, Andromede Decor will reorganize its store collections and refocus its acquisition policy, the company said. The company launched the bam boo store chain in 2003. It currently owns 22 stores countrywide, located in shopping malls or independent stores, of which 10 in the capital city Bucharest. In 2010, bam boo posted sales of EUR 8.4 million.The stores sell gifts, household items and decorations. Mediafax