One more chance for SA “Aroma”

The list of debtors of vital importance for the national economy will be supplemented with the wine and cognac factory SA “Aroma”, at the suggestion of the Ministry of Agriculture, Regional Development and Environment, IPN reports, with reference to a Government decision.

The insolvency procedure against SA “Aroma” was launched in April 2013. In a year, in May 2014, the Creditors Council accepted the restructuring plan that enabled the company to improve its situation and to repay a part of the debts. Until April 1, 2017, it paid debts of over 100 million lei, but has yet over 150 million lei debts.

Under the Law on Insolvency, if the debtor is of vital importance for the national economy, the implementation period of the restructuring plan can be extended for two years, at the request of creditors or ministries.

SA “Aroma” is one of the oldest companies in Moldova. It makes 69 names of alcoholic beverages known in Moldova and abroad, its drinks being awarded at international exhibitions and fairs. The company carried out 40% of the measures stipulated in the restructuring plan. In 2016, its sale increased by 20% on a year before. Despite the encountered difficulties, the company manages to keep the jobs.

The state owns a 100% shareholding in SA “Aroma”.