Producton SRL enters insolvency amidst market challenges
November 21, 2023
Producton SRL, a 30 year veteran in Romania’s tech sector since the fall of communism, has entered insolvency, with Eurosmart appointed to navigate the claims of 36 creditors in a challenging market.
Romania based Producton SRL, known for its specialisation in Managed Print Services (MPS), document management, printer and multifunction printer (MFP) hardware, and consumables, including remanufactured consumables, entered insolvency proceedings at the end of September. Eurosmart Filiala Prahova SPRL (Eurosmart) has been appointed as the liquidator to manage the insolvency process, tasked with addressing the claims of 36 creditors.
The company was formed in 1993, in the heady days of the fall of Nicolae Ceau?escu’s communist regime in December 1989 and 14 years before Romania joined the European Union in 2007. Producton has been a significant player in the Romanian ICT market. However, the company faced a drastic 57.59% decrease in net sales revenue in 2022 and a 43.11% reduction in total assets. Despite substantial growth and investment, the ICT sector has hurdles, including skilled labour shortages and regulatory complexities affecting many businesses, including specialised firms like Producton.
The appointment of Eurosmart as the liquidator will require careful navigation to ensure that the interests of all 36 of Producton’s creditors are adequately represented and addressed. Eurosmart can be contacted at: https://eurosmart.ro/contact/
Our take on this: It is never good news to hear about a company entering insolvency, especially Producton, which navigated to the communist era to become a significant player in a rapidly expanding market.
Categories : City News
Tags : Business Insolvency Producton Romania
