Matache Macelaru goes insolvent

Principal Company, producer of Salonta and Matache Macelaru
charcuterie brands, has been declared insolvent by a ruling of the
Buzau court of law after the company failed to pay debts
accumulated with five creditors. “The ruling whereby insolvency
proceedings were brought against our company is not final and we
have filed an appeal against the ruling,” said representatives of
the charcuterie producer with 25 million euros in turnover, held by
Signus Establishment and by businessmen Ion Dobronauteanu, Emanuel
Dobronauteanu, and George Ivanescu – shareholders of wine producer
Murfatlar. However, representatives of the charcuterie producer say
they will appoint a special administrator for the company at the
next meeting, as is required by the insolvency law. “The ruling in
favour of insolvency proceedings in the case of Principal Company
is enforceable, so it is applicable even if an appeal has been
filed,” said representatives of RTZ & Partners in Cluj Napoca,
judicial administrator of Principal Company, which has been
temporarily appointed to this position by the Buzau court of law,
until the appeal is settled.