Wine producer Murfatlar Romania declared insolvent
Constanta Court approved the entry into insolvency of the company Murfatlar Romania, a leading local wine producer. The wine producer states that the company will continue development and expansion strategy of business on the Romanian market by the plans already established in a solid and sustainable way. Its business grew 32 percent last year, from RON 140 million to RON 185 million. Slow degree of money recovery of money in the market, the general characteristic of the business during this period is the main effect is the lack of liquidity, making it difficult to pay outstanding debt, writes in a statement of the company. Another major players in the field are Cotnari, Jidvei, Vincon Vrancea and Recas Cellars.