Vivre Deco assures of its viability, despite its deep losses in 2021
Vivre Deco, a Romanian online home & deco retailer with operations in Central and Eastern Europe (CEE), announced that it would convene an Extraordinary General Meeting to prevent any action that could be directed toward the dissolution of the company.
"We want to make clear that the opinion of the management and the shareholders is that the company's activity remains viable and that the dissolution is not justified, necessary or for the benefit of any interested party," the company's management said, quoted by Profit.ro.
The shareholders will also approve the measures that will ensure the continuity of activity.
Vivre Deco, with EUR 10.45 mln bonds listed on the Bucharest Stock Exchange (BVB), maturing 2025 and 2026, announced a net loss of RON 84.8 mln (EUR 17 mln) in 2021, from a net profit of RON 7.4 mln in the previous year.
The auditors question the group's capacity to continue operations. On February 9, the shareholders approved the increase of the share capital through a RON 7.5 mln (EUR 1.5 mln) capital injection made by the majority shareholder Neogen.
At the end of last year, the fund Neogen, 67% controlled by Călin Fusu, had a 50% stake in Vivre Deco. Other shareholders were Adisory Delta (45%), a company indirectly owned by Oliver Cadogan (husband of company's founder Monica Cadogan) - who announced his resignation as CEO of Vivre on August 26 - and Nagy Vajda Andras Peter, with 5% of the shares each.
(Photo: Robbiverte/ Dreamstime)