Tudor Dragomir Niculescu, 31, owner of the Turabochain, has closed 30 coffee shops in less than a year and a half,with the company currently left with 14 coffee shops, compared with44 in November 2009.
"Turabo closed all the places that had problems in 2009 and 2010,"said Niculescu. According to the entrepreneur, there are currently14 coffee shops under the Turabo brand, four event halls and theTurabo Society Club complex.
BRTV Grup, which operates the Turabo coffee shops and the TuraboGrand Ballroom event centre, posted 10.2 million lei (2.77 millioneuros) in turnover and a profit of around 188,000 euros in lei in2008 according to Trade Registry Office (ONRC), with these beingthe latest available data because the company did to submit the2009 balance sheet. Company officials did not answer ZF's requestfor 2009 and 2010 turnover data.
Victoria Holding, which owns the currently bankrupt City Mall,filed an insolvency petition against BRTV Grup in March 2009. TheBucharest Court of Appeal dismissed the petition in June last year.On March 15th, Victoria Holding again filed an insolvency petitionagainst BRTV Grup, with a ruling in this case to be delivered onMarch 31st, according to the Bucharest Court of Law.
"According to the ruling of the Bucharest Court of Appeal, BRTV wonthe appeal in the insolvency case," Niculescu said.
Apart from the insolvency petition of Victoria Holding, another twocompanies controlled by Niculescu, Turabo Business Corporation andTCD Royal Events, are in similar situations. Niculescu says aboutTurabo Business Corporation that "we have appealed the decision todeclare the company insolvent and we are confident we willwin."
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
