BCR, one of the creditors most exposed to the insolvency ofthe retailer held by brothers Ilie and Cornel Penescu, requestedthat the current receivers of Pic be replaced by PwC, the biggestaudit and consultancy firm on the Romanian market.
BCR and Banca Transilvania are Pic's biggest creditors; theretailer owes approximately 30 million euros to several banks,according to data provided by the networks' representatives.
The first meeting of Pic's creditors was held last week, butthe reorganisation plan of the network that the shareholders andcurrent receivers proposed has not been approved yet.
"BCR proposed to have the receivers replaced with PwC,probably because this is the biggest auditor on the market and hasa lot of expertise in this field," Ilie Penescu stated.
The court-appointed receivers are three individual insolvencyfirms based in Arges. Their replacement with PwC can only be doneby the court.
Last year, before filing for insolvency, the Penescu brothersturned to PwC consultants for help in finding an emergency loan tosave the hypermarket network.
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