Electro Distribution SRL, the IT & C distribution company in the Quickmobile group – controlled by the entrepreneurs Tudor and Angela Ţiboc, which in the past 5 years achieved a net profit of more than 16 million lei companies of 778 million lei, asked bankruptcy court last week at the Maramureş Tribunal, the application was admitted on September 5, according to the available data on the portal just.ro.
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"The court of Maramureş acknowledges the request of the debtor of SC ELECTRO DISTRIBUTION SRL and consequently: 71 referring to Article 67 already 1 lit. g and Article 38 lit. it is of Law No. 85/2014 with regard to the procedures for the prevention of insolvency and insolvency, recommends the opening of the simplified procedure and the bankruptcy of SC Electro Distribution SRL debtor, "according to the quoted source.
The decision to file for bankruptcy is shocking: in the past 5 years the company recorded a net profit of more than 16 million lei and only posted a net loss of 0.8 million lei last year. The company's turnover rose by 2% in 2017 to 160.4 million lei (35.1 million euros).
The best year for the company was 2014, with a net profit of 5.5 million lei for operating activities of 196.8 million lei, according to data from Finance
At the end of last year, the company had total debt of 34 million lei, an increase of almost 10 million lei compared to the previous year.
Since 2016, Angela Ţiboc owns 95% of the Electro Distribution shares after the Tudor Iulian Ţiboc man has transferred a 45% share, according to commercial register data. The company was founded in 2004.
With sales of 160 million lei in 2017, Electro Distribution ranks among the top 10 players on the local IT & C distribution market, dominated by Network One Distribution – a company owned by the entrepreneur Iulian Stanciu and the subsidiary of the Latvian Elko Group.