Bucharest Court Admits Flamingo's Bankruptcy Request

The Bucharest Tribunal admitted, on Monday, the insolvency request of IT&C retailer Flamingo International (FLA.RO) and named RVA Insolvency Specialists as judicial administrator. Last week, the Court approved the insolvency request of Flanco, one of the units of Flamingo International group.

 

On the Bucharest Stock Exchange Monday, Flamingo shares were suspended from trading twice. Before the second suspension at GMT0935, Flamingo shares were traded at 0.0185 lei (EUR1=RON4.2477), down 14.75% on the day, at around GMT0933.