September 6 (SeeNews) - Romanian cables and electric conductors manufacturer Romcab [BSE:MCAB] said on Tuesday it will file a debt rescheduling request after the country's tax agency ANAF requested its bankruptcy in court.
The company needs to recover a total 18.8 million lei ($3.87 million/3.89 million euro) from ANAF, plus an additional 1.35 million lei in penalties, it said in a report filed with the Bucharest Stock Exchange (BVB).
On Monday, the company announced in a bourse filing that ANAF's Mures county branch has requested its bankruptcy in court.
In the first half of 2022, the company's losses amounted to 86.22 million lei, compared to a profit of 13.38 million lei in the same period of the previous year. Romcab's debt stood at 1.47 billion lei at the end of June 2022.
Romcab is Romania's largest producer of cables and conductors and has been operating since 1950. The company has been insolvent since 2017 and is currently in judicial reorganisation.
Romcab's shares traded 0.71% lower at 0.1395 lei/share at 1240 CET on Tuesday, on the Bucharest Stock Exchange.
(1 euro=4.8287 lei)