Romanian bam boo Stores Owner Enters Insolvency

"We started reorganization procedures in order to adapt our business to the realities of the current economy," Philippe Eustratiades, manager at Andromede Decor, said in a statement.

In order to continue its activity more efficiently, Andromede Decor will reorganize its store collections and refocus its acquisition policy, the company said.

The company launched the bam boo store chain in 2003. It currently owns 22 stores countrywide, located in shopping malls or independent stores, of which 10 in the capital city Bucharest.

In 2010, bam boo posted sales of 36 million lei (EUR1=RON4.2578).

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