Romexpo, the largest exhibition center in the country, located in northern Bucharest, went into insolvency for an unpaid debt of €42,000 (RON 181,600) to Arsenoaiei and Matasel Consulting company.
The economic crisis, poor management, and falling numbers of events led to the company’s demise, according Remus Borza, of Euro Insol, the name of the receiver. He said that competent management adapted to the new economic conditions would improve company profits this year.
Romexpo was founded 50 years ago and offers nearly 77,000 sqm of exhibition space. Last year, it provided a venue for 150 events, producing turnover of RON 44.4m (€10.5m) along with a loss of RON 2.5m (€0.6m).
