The Romanian network of mobile and digital communication stores Say has started the judicial reorganization procedures and a new investor already wants to enter the new shareholding structure. Say will reorganize its activity and have Casa de Insolventa Transilvania as judicial administrator.

“The stores network was part of the Israeli group Globalicom-Trade LTD, which was dissolved in July 2011, and the say brand was left without a financing source,” according to Say representatives.

The Say brand is managed and owned by MCS Communications. The network has 68 stores and plans to open 19 new stores by the end of the year, according to Petrut Stoica, general manager of the Say network. 40 of the say stores are located in Kaufland gallerias.

The network of stores posted revenues of EUR 9.7 million last year.

editor@romania-insider.com

(photo source: Vitantis)