Montero, the drug distributor controlled by Tudorache family andthat entered insolvency this year, saw it turnover nosedive, comingto generate turnover of just 15% of the level of 2008, when itderived over 70m euros. The company now has 40-50 employees, namely10% of the 2008 headcount. Montero's steep turnover decline comesas the pharmaceutical market has kept rising in recent years, andno other company in the industry is in a similar situation. "Themain problem was related to cash flow, generated by late paymentson the market. This is a challenge for all distributors on themarket," said Radu Ioan Tudorache. Montero business, started morethan ten years ago by Radu Tudorache and in recent years taken overby his son Radu Ioan, showed the first signs of decline as early as2008, when losses amounted to 3.7m euros, and the general managerof that time, Flavius Hadadea, left the company. Tudorache, whoalso invests in businesses such as Remedio drugstore network, aswell as in the IT and real estate fields, is waiting for the listof lenders to be finalised to come up with a reorganisationplan.
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