BUSINESS

Transilvania Insolvency Practitioner changes name and visual identity to CITR

Transilvania Insolvency Practitioner, leader of insolvency market in Romania, changed its name and visual identity becoming CITR, part of CITR Group of companies specialized in identifying custom solutions for companies facing difficulties.
With a 14 year experience in insolvency practice, the CITR experts developed a solid expertise in solving situations of economic and financial impasse of companies through their 750-plus managed procedures. Along with CITR and CIT Restructuring, CITR Group also includes CIT Resources, a department specialized in investment opportunities.
„ The insolvency market in Romania developed, and our efforts over the past few years in educating the business environment in this respect start to pay off, as managers start to perceive earlier the signs of economic difficulties of their own companies and choose to restructure them instead of going insolvent. The experience collected during the projects managed by Transilvania Insolvency Practitioner helped us identify three areas where we can extend our help provided to companies for a healthy return to the economic circuit. CITR will continue to assist companies in insolvency, whereas CIT Restructuring will help those able to overcome their difficulties without the insolvency procedure,” said Andrei Cionca, CEO of CITR Group.
CITR Group will be managed by Andrei Cionca as CEO of the group. The three companies of the group will operate independently, covering different needs.

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