CITR, insolvency practitioner appointed at Clujana: the brand is set to overcome the hardship

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Cluj-Napoca, June 15th, 2018 – CITR was confirmed as the insolvency practitioner by all the creditors attending the meeting held yesterday, June 14th, 2018, namely 95.59% of the creditors registered in the preliminary creditors’ list. During the same meeting, the Committee of Creditors was also appointed. The members of the Committee of Creditors are DGRFP Cluj-Napoca (president), Banca Transilvania SA (member) and Radiasima Prod SRL (member). The company Clujana S.A. received approval for its request to file for insolvency in January 2018, when the Specialized Court in Cluj appointed CITR as temporary insolvency practitioner.

"We believe that Clujana brand is set to overcome this hardship, using the solutions to be identified along with the Special Director  and company’s creditors. Currently, we are working together to strengthen and sell the company’s production under its own brand, both in shops and online. We are also in an advanced stage of discussions to open a new store in a central area in Cluj-Napoca", highlighted Vasile Godîncă-Herlea, CEO CITR, part of CITR Group.

"We are aware of the tradition of more than 100 years of the Clujana brand, and we promised we would contribute to making sure that this tradition continues, both in our capacity as confirmed insolvency practitioner, and as members of the Cluj community, as it is also our responsibility to help the company to overcome this period”, added Vasile Godîncă-Herlea.

The next phase of the proceedings, as per the law, is the summoning of the Creditors’ Committee appointed during the yesterday meeting, to designate a valuator for the Clujana SA assets. For this purpose, CITR will publish a call for offers from any interested  specialists.

Media Relations: Anca Topliceanu / / 0744.653.107