Some Romanian entrepreneurs are breathing a sigh of relief thatthe crisis is over. Others are looking at the list of creditors,worrying about how they are going to pay their debts.
Businessman Nicolae Palfi, who holds 31% of the beverages groupRomaqua, says last year many of the big players in the economybarely squeezed through last year, terming it a "very difficult"time.
Palfi, 53, who together with Octavian Cre]u, controls one of thestrongest Romanian brands in the fast moving consumer goodsindustry, has looked back at 2010. In one of his first interviewsto the press, he says for the first time in his life, in 2010 hewas in a position of "no longer understanding anything".
"There was no room for predictability any more, there was nothingto rely on any more. You had to make your moves on a day-by-daybasis," added Palfi, who is also vice-president of Romaqua.
However, one can say Romaqua came out of 2010 nicely, consideringthat while the company's volume of sales fell 4%, its turnover rose17%. In 2009, Romaqua posted 125.8 million euros in turnover.
On the other hand, Romanian businesses such as Diverta (controlledby Octavian Radu), Astra Vagoane (Cristian Burci), Leonardo (FlorinPanea) and Flanco (Flamingo, a business taken over by Asesoft'sSebastian Ghi]` and Iulian Stanciu) were less lucky and got caughtin the financial whirlwind.
Businesses controlled by local entrepreneurs in particular weresignificantly affected by the liquidity crisis, as well as by thetougher lending terms. Lacking the safety net of a parent company,businesses with tens of millions of euros in turnover filed forinsolvency and for protection against creditors.
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