Samsung Romania asks for the insolvency of a local electronics retailer

Last week, Samsung Electronics Romania filed to Bucharest Court an application for insolvency of Family Concept SRL, formerly Domo Retail SA.

After a restructuring launched two years ago, Domo SRL has come to take over Domo Retail stores -one of the largest electronics retailer on the local market, currently operating the brand, 75 stores and domo.ro.

“Domo SRL (…) has no problem with its suppliers or customers. Any reference to Domo brand in the context of Samsung’s request for insolvency, is erroneous and has no legal support. First, we do not think we need big stores as before. Secondly, we began to develop pop-up stores,” Domo representatives say.

According to Trade Register data, Domo Retail is controlled by Avarike Limited (Cyprus) – 99.99 percent and Eugene Petrov (Austrian citizen born in Bulgaria). In October 2014, Petrov took over the company following a buyout management process.

application for insolvencybucharest courtDomo RetailSamsung Electronics Romania
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