RESTORING BALANCE AND PERSPECTIVE
IN THE ROMANIAN BUSINESS ENVIRONMENT

We are closer to our customers through our 10 offices across the country and provide custom-made solutions with the help of our 150 experts who work in multidisciplinary teams comprising: insolvency practitioners, lawyers, economists, financial analysts, sales, marketing and asset management experts.

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

Today, CITR accounts for: 10 subsidiaries, 20 senior managers for different areas, 120 experts, 8 teams, over 850 projects, 100% rate of approval of the reorganization plans drafted by CITR and full approval from creditors and courts of law; 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.

CITR MISSION

"We believe in the customized management of businesses which are in a deadlock, using solutions adapted to their individual needs, in order to restore their health and reintegrate them into the economy."

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
integrity
partnership
innovation