Insolvent Romanian pharma distributor’s assets, put up for sale

Insolvent Romanian pharma distributor’s assets, put up for sale

Local insolvency house CITR has put up for sale warehouses, plots, apartments and cars owned by the pharma distributor ADM Farm, which is under insolvency.

Their value amounts to EUR 5.5 million, without VAT, reports local Profit.ro. The most valuable asset is a 10,200 sqm land plot located in Ilfov county, which sells for EUR 3.5 million.

The company’s warehouse and the office, located in Craiova, are up for sale with EUR 188,000. A pharma storehouse and an office, located in the village of Carcea, Dolj county, can be bought for EUR 506,000.

ADM Farm was one of the largest pharma distributors in the local market. It became insolvent last year. The company has debts of EUR 56 million.

In 2014, the company had a turnover of EUR 101 million and EUR 10 million losses.

Source: Romania-insider.com

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