Ultra Pro Computers could be declared bankrupt in December

Newsroom 26/10/2009 | 15:17

“Following an analysis of the financial indicators and of the current situation, we have reached the conclusion the company has no chances of reorganization and we have suggested it file for bankruptcy through simplified procedure, a process that could come to a close on December 17 when the next term of trial for the file is due,” Geanina Oancea, partner in BDO Business Restructuring SPRL, told the financial newspaper. K Tech has accumulated debts of approximately EUR 28 million to date, and preliminary data show there are in total 84 creditors of which three are banks, according to Oancea.In December 2008, Ultra Pro Computers had 55 stores. Since July, the retailer has not opened any more outlets. Just a few employees still work part-time for the chain, from the total number of 600. In 2008, K Tech Electronics posted revenues of EUR 84.9 million. In the first six months of the year, its revenues fell dramatically to EUR 13.5 million. K Tech Electronics is a business owned by husband and wife team Alina and Cristian Fughina.
Otilia Haraga

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