A group that owns seven food and non -food factories in Romania has entered insolvency, the judicial administrator being called Infinexa, a Romanian entrepreneurial company specialized in restructuring the companies in difficulty.
A group that owns seven factories in Romania has entered insolvency
The Galați Court ordered the insolvency of Grande Gloria Production SA, Passage Food SRL and Gloria Market SRL, part of the Grand Gloria Production group, based in Galați. The group operates seven factories of food and non -food, has about 550 employees, and the cumulative turnover exceeded 40 million euros in 2023, the Infinexa judicial administrator announced on Tuesday.
“Grande Gloria is one of the companies that, in full sanitary crisis, responded quickly and efficiently to the needs of the market, becoming an important supplier of essential products, such as disinfectants, protective masks and other sanitary products. Unfortunately, with the exit of the pandemic, many similar businesses have woke up in the face of fully changed economic realities-declining demand, oversized stocks and high financing costs. The main challenge of them is to adapt the operational structure to the new market conditions. In this context, we make every effort to rectify the activity of Grande Gloria and to ensure maximizing the degree of recovery of the debts belonging to the creditors of the company.”, Said Adrian Lotrean, founder of Infinexa, designated judicial administrator.
The court ordered the opening of the general insolvency procedure compared to the three companies of the Grand Gloria Production Group, and the judicial administrator will draw up a report on the cases that led to the insolvency status.
The group operates several food and non -food factories, where they produce wet towels, disinfectants, liquid detergents, liquid cosmetics, floor detergent, liquid soap, crème and shower gels, dish sponges and kitchen lavete, but also pastry products. Business at the level consolidated in 2023 exceeded 40 million euros, for Hygenium, Aleda, Cleany, Expertto and Lolliboni brands. The products arrive in over 50 countries, where the best known brand is Hygenium, for disinfenctors used during the pandemic.
The Infinexa judicial administrator manages assets worth over 170 million euros and manages judicial companies such as Blue Air, Vivre Deco, Hidroconstruction, Angst.
