On a market that seems to thrive as the courier firms capitalise on the rise of online commerce particularly coming from second-tier cities, independent courier firm Nemo Express entered insolvency at its request on October 21, shortly after one of the shareholders - operating leasing company Capital Fleet Services - pulled out, Profit.ro reported.

Capital Fleet is also the largest on a list of some 25 creditors.

The company’s bonds listed at the Bucharest Stock Exchange (BVB) last year (some EUR 1.5 mln) plunged by another 15% during the October 21 session and are traded at 35% of their face value.

Nemo Express was launched in 2002 and has developed a national network of 88 territorial agencies and 100% national coverage. At this moment, the sole shareholder of the courier company is Florian Stănilă.

Last year, Nemo had a turnover of RON 138 mln (EUR 27 mln) and a loss of about RON 1 mln. Total debts were at the end of last year at RON 64.7 mln (EUR 13 mln), almost double compared to 2019, with no arrears to ANAF. 

andrei@romania-insider.com

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