Pepos: We don't have the resources to develop further

Shareholders of the Oradea-based clothing manufacturer Pepos (established in 1994), which holds a production centre in Bihor county, have put the company up for sale, due to the problems experienced by the overall clothing industry, as well to the fact that shareholders no longer have the necessary resources to further develop the brand. At present, two Italians and two Romanians own the company. "The two Italian shareholders have been looking to sell their 50% stake for almost two years now, due to financial problems, especially given that, since the company was established, they have not made any earnings, because the whole profit has been reinvested. So far, they have not been able to find investors willing to buy the clothing plant and the Pepos stores, and we don't have enough money to buy the whole company, which is why we have decided to sell," said Edit Gersohn, manager of Italian-based Pepos Prod, who puts the company's value at 0.5 million euros.