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TXM files for bankruptcy of Romanian subsidiary

Opr./edited AZ 12 August 2019

ROMANIA Polish clothing group TXM, which is undergoing restructuring, has filed for the bankruptcy of its 100 pct Romanian subsidiary Adesso TXM Romania, based in Timişoara.

The closing of its Romanian branch forms part of the downsizing plans of the group.

In 2018 the company incurred losses of app. PLN 7 mln in terms of its EBITDA II (the profit from stores minus indirect costs related to logistics and marketing), according to the consolidated report of the TXM Group on its operations in Romania.

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