RESTORING BALANCE AND PERSPECTIVE
IN THE ROMANIAN BUSINESS ENVIRONMENT

For 20 years, CITR has been saving the value of the Romanian businesses. CITR restores balance and perspective, putting businesses back on track.

We are a part of the CITR Group, the first group of companies in Romania specialized in customized solutions for companies in economic distress.

We represent Romania in the leading forum of INSOL Europe – the European organization of professionals specialized in insolvency.

CITR BACKGROUND

2000

A team of experts in law and economics from Transylvania lay the foundation of a society of insolvency practitioners

2006

The shareholders transform the small society of practitioners into Transylvania Insolvency House

2007

As part of Tractorul project, the company concludes the largest and fastest liquidation proceedings in Romania, finalized with a 77-million-Euro deal endorsed by the European Commission

2008

CITR continues to expand its portfolio and services, thus acquiring leadership of the insolvency market in Romania

2009

This is CITR’s year of expansion; due to its success in Transylvania, CITR aims for national exposure and opens new offices, including Bucharest, Bihor, Sibiu, Brașov și Timiș.

2010

CITR marks the first successful reorganization of a renowned retailer in Romania, Flanco; the reorganization plan was implemented in a record time, of only 6 months; it is time to reposition the business and develop reorganization services

2013

CITR won the award Transaction of the Year – Best Turnaround Strategy for the Diverta project and the Golden Award of Excellence for educating the business environment; now the company opens a new office located in Ilfov, and also establishes sales.citr.ro – the most advanced online platform for asset sales in case of insolvency and liquidation

2014

CITR Group is established as the only group of companies in Romania providing customized solutions for companies in economic and financial difficulty; the CITR restructuring experts establish CIT Restructuring, CIT Resources is created to address investment challenges, and Transylvania Insolvency House becomes CITR. It is opened a new office, located in Cluj.

2016

CITR wins multiple awards: Successful Women in Insolvency Practices, Excellence in Insolvency, Award for its contribution to restoring health in the Romanian economy, Award for Excellence in the development of the profession in the Insolvency and Restructuring category and Best Business Advisory – Swan: Transaction of the Year 2016. In the same year, CITR expands by opening a new office, located in Galati.

2017

Insol Europe, the European organization of professionals specialized in insolvency, is chaired for the first time by a Romanian leader, between 2017 – 2018 – Radu Lotrean, co-founder of CITR. Also in 2017, CITR openes two new offices, located in Argeș and Prahova.

2018

CITR opens its first international office, located in Cyprus.

CITR means today:

  • Ten subsidiaries in the country and one external office;
  • A team of over 160 people, including 21 senior managers;
  • 100% rate of approval of the reorganization plans.

Departments

CITR Despre Noi - Departamente

CITR MISSION

Our mission is to save and enhance the value of Romanian businesses, by reintegrating them into the economy. We aim to give a second chance to companies in distress, local communities and people.

We use the best international practices in the field and our knowledge that has been consolidated throughout 20 years of experience in an innovative and project-specific way.

 

CITR VISION

"We are aiming to revive the Romanian business environment by restoring the balance of companies struggling with difficulties, using innovative mechanisms in the insolvency industry, designed and applied by some of the top experts on the market."

CITR VALUES

  • Passion - We love what we do. We instill our passion to others
  • Innovation - We build on applied and proven knowledge, expertise and best practices
  • Team Spirit - The strength of the team is given by the qualities of each member of CITR team
  • Business ethics - We are driven by the highest ethical standards in our profession