INFINEXA Restructuring, a Romanian entrepreneurial company specializing in the restructuring of distressed firms, with assets of over 130 million euros under management, has been confirmed by the Ilfov Court as the judicial administrator, in consortium with Prime Insolv Practice SPRL.
“Our strategy involves a capital infusion from the new shareholder, the operational restructuring of the company, and the realization of non-essential assets for the reorganization plan. Moreover, the change of shareholders has already laid the groundwork for a successful reorganization, and we are making every effort to maximize the recovery of debts, ensuring the continued presence of the Angst brand, a name with tradition in the Romanian meat industry,” stated Radu Tudor, Senior Partner at INFINEXA Restructuring.
The meat processor Angst Ro SRL entered insolvency on March 29, 2024, at the request of creditors Abatorul Periș and Primo Mix Food. The company is currently in the observation phase, with the judicial administrator set to propose a reorganization plan. Founded three decades ago, Angst is one of the main players in the local meat industry, with over 170 employees and a network of its own food stores.
In the first half of 2024, 432 companies in the manufacturing industry filed for insolvency, compared to 385 in the same period last year. Among them, 20 companies in the food sector, dealing with meat processing, preservation, and meat product manufacturing, have filed for insolvency proceedings, with seven currently undergoing the procedure.