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December 1, 2021

Galli Gallo, the largest turkey farmer in Romania enters insolvency

Galli Gallo, the largest turkey farmer and turkey meat processor in Romania, with turnover of EUR 34.4 M went insolvent at its own request amid difficulties on the poultry market and weighed down by debts. Another reason of the insolvency: a debt of EUR 8 M to be paid as compensation to the Ministry of Agriculture “ avian flu” file from 2006, according to zf.ro. “The insolvency causes are many, one of them being that I found no understanding at the Ministry of Agriculture to debt the installments and also, the antibiotics scandal from early this year which dropped at half our sales”, said Razvan Sandru, company’s General Manager. The business is owned by entrepreneur Catalin Muntean (60 per cent share), currently mayor of Codlea city, Brasov County and Florin Macovei (40 per cent share). In the first seven months, nearly 16,500 companies called out for insolvency and only 80 of them have succeeded in recovering.

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