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Casa Rusu: One of Romania’s Oldest Furniture Retailers Bankrupt

Casa Rusu, one of the oldest furniture manufacturers and retailers in Romania, enters insolvency through a simplified procedure, according to a decision taken by the Timis Court.

 

The Rus Savitar Group – Casa Rusu was founded in 1994 by the Rusu family, which is also the owner of Rus Savitar SA, the company through which they produce furniture, and at the same time the creditor in this process through which Casa was declared insolvent through a simplified procedure Rusu SRL.

 

In 2019, the Rusu family sold the business to the Greenbridge investment fund, to buy it back in 2023.

 

The solution in short: Accept the request. Open the simplified insolvency procedure against the debtor. The Banta? Romana – Diana Individual Insolvency Cabinet is appointed provisional judicial liquidator”, the court’s decision states.

 

The legislation provides that “the simplified insolvency procedure represents the insolvency procedure through which the debtor who meets the conditions provided by law enters directly into the bankruptcy procedure, either with the opening of the insolvency procedure, or after an observation period of a maximum of 20 days, during which analyzes the fulfillment of the legal conditions”.

 

According to listafirme.ro, CASA RUSU SRL had a turnover of just over 65 million lei in 2023 and losses of 7.4 million lei, with an average number of employees of 142. The turnover is 11 million lei lower than in 2022, when the company had 246 employees and recorded similar losses. In 2016, it recorded the highest profit, i.e. just over 3 million lei, on a turnover of 75 million lei.

 

In 2023, another Romanian online furniture retailer Vivre, founded in 2013, entered insolvency.

 

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