Romanian Optinova goes bankrupt after reorganization plan not respected

Optinova, one of the most important players in the Romanian medical optics market, has gone bankrupt at the judicial administrator’s proposal. The company had entered insolvency in 2011. According to the Bucharest Court, the company’s reorganization plan was not respected, as the debtor failed to manage its business efficiently, adding losses. Optinova Romanian American Optical Co SRL was founded in 1991 and its main activity was “retail trade of other new goods in specialized stores”. In 2011, when the company announced its insolvency, it recorded a turnover of RON 2.9 million (EUR 685,000) and losses of RON 1.41 million (some EUR 333,000). The following year, Optinova had a turnover of RON 2 million (EUR 449,000) and losses of some RON 393,000 (some EUR 85,000). Irina Popescu, irina.popescu@romania-insider.com