Romanian fashion retailer Tina R has entered insolvency and could submit the reorganization plan by the end of this year. It will include debt covering, closing down unprofitable stores and attracting new investors in its shareholder structure. Tina R will continue its activity while also renegotiating some of the lease contracts for stores. Casa de Insolventa Transilvania has been named Tina R's judiciary administrator. Tina R has started the insolvency procedures at the end of September.

The retailer has nine stores in Romanian shopping centers. Tina R is controlled by Brands in Trade-Marketing, owned by Beatrice David. Other shareholders in the company are Daniel Tepes, Chis Grigore, Calin Radu Bercaru, Marasescu Adrian, Mircea Bolohan, Sorin Apostol and Ilie Stoichiescu.

editor@romania-insider.com