Matache Macelaru on the verge of insolvency

Principal Company, which makes the Salonta and Matache
Macelaru charcuterie products, is one step from insolvency after
Buzau Court of Law last week decided to start insolvency
proceedings in the wake of law suits filed by five lenders. The
representatives of Principal Company, controlled by Signus
Establishment and businessmen Ion Dobronauteanu, Emanuel
Dobronauteanu and George Ivanescu, shareholders in Murfatlar wine
producer, say they will appeal the decision by the end of this
week, though they are also considering the possibility of the
company’s going into administration. “We are not the only company
whose insolvency is asked for, for more or less important sums. In
this regard, we’ll exercise our right to appeal. Indeed, we have
money to recoup from the market and money to give. However, we do
not consider there’s ill will in either of the situations.
Moreover, we’ve held talks to reschedule these debts, with most of
them finalised,” Principal Company representatives told ZF.