Floreasca Construction, builder of two malls in Bucharest, asks for insolvency

The Floreasca Construction company, formerly known as Summa Romania, the company that executed the construction works for Bucuresti Mall and Plaza mall and several office buildings in Bucharest, has asked for insolvency through a document filed at the Bucharest Court, according to Mediafax newswire. The hearing was set for Tuesday, October 4. The company had a turnover of EUR 1,265 (RON 5,317) last year and a profit of EUR 172,000 (RON 722,110). Floreasca Construction had only two employees at the end of 2010. In 2009, the company had 30 employees, and a business of EUR 9.5 million (RON 40.3 million) while the losses amounted to EUR 5 million (RON 21 million). Summa Romania had been involved in other projects such as Bucharest Corporate Center office buildings, Millennium Business Centre, North Gate Business Center and Bucuresti Mall and Plaza Romania. Irina Popescu, irina.popescu@romania-insider.com (photo source: Photoxpress.com)