Matache Macelaru goes insolvent

Principal Company, producer of Salonta and Matache Macelaru charcuterie brands, has been declared insolvent by a ruling of the Buzau court of law after the company failed to pay debts accumulated with five creditors. "The ruling whereby insolvency proceedings were brought against our company is not final and we have filed an appeal against the ruling," said representatives of the charcuterie producer with 25 million euros in turnover, held by Signus Establishment and by businessmen Ion Dobronauteanu, Emanuel Dobronauteanu, and George Ivanescu - shareholders of wine producer Murfatlar. However, representatives of the charcuterie producer say they will appoint a special administrator for the company at the next meeting, as is required by the insolvency law. "The ruling in favour of insolvency proceedings in the case of Principal Company is enforceable, so it is applicable even if an appeal has been filed," said representatives of RTZ & Partners in Cluj Napoca, judicial administrator of Principal Company, which has been temporarily appointed to this position by the Buzau court of law, until the appeal is settled.