The agriculture companies InterAgro SRL Zimnicea and InterAgro SA, owned by the Romanian billionaire Ioan Niculae, entered insolvency.
The Teleorman Court admitted the demand of several creditors for the insolvency of the two companies run by Ioan Niculae.
The company InterAgro SRL controls the largest part of Niculaes businesses in agriculture and industry and has an annual turnover of some EUR 355 million in 2014. InterAgro SA was Niculaes holding company and had EUR 392 million in revenues in 2014. The two insolvent companies had cumulative losses of over EUR 40 million the same year.
In April last year, Niculae has been sentenc…
Read the full article at: http://www.romania-insider.com/romanian-billionaires-companies-enter-insolvency/164567/