Octavian Radu, owner of insolvent bookstore chain Diverta, ispreparing a back-up plan for the potential closure of the network'sbiggest store, Diverta Magheru, by renting 1,400 square metres inthe same area, on the former location of the Princess casino,previously occupied by Trocadero restaurant. The restaurant hasgone down in Bucharest's history as the meeting place of bankersand economists in the early 90s, with Mugur Isarescu and EugenDijmarescu, former vicegovernor of the NBR (National Bank ofRomania) being clients of the restaurant. "The opening in August ofthe Diverta Academiei bookstore will ensure a back-up in case of apotential closure of the Magheru store. It remains to be seen hownegotiations to cut rent will go," said Amalia Buliga, CEO ofDiverta, which last year posted a 30 million-euro turnover. Divertabookstores have been insolvent since May, after accumulating a 10million-euro debt. Buliga also specified the investment in DivertaAcademiei was minimal, considering the "acceptable" rent. Bycontrast, the 1,800 square-metre space on Magheru was the mostexpensive rental contract in the group's history, amid 1 millioneuros in rental guarantee costs.
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