Spar requested Flanco’s bankruptcy statement down to a 150,000 lei debt/Flanco says the sum is "ridiculous at this business level" 

Miercuri, 10 iunie 2009, 1:38 English | Bucharest

Spar retailer submitted a dossier with Bucharest Court, asking for company Flanco’s insolvency, after Flanco did not pay its 150,000 lei debt to Spar. Flanco representatives seemed surprised, saying that the sum the company owes is insignificant and labelled Spar’s action as blameable.

Spar submitted the dossier on June 4. The first court hearing is scheduled for September 1.

"Flamingo International expresses its surprise toward Spar’s action, especially when the debt is of little value. Moreover, there has not been an open discussion between the representatives of Spar and of Flamingo International", Flamingo reps say. Flanco is part of Flamingo group.

Flanco said Spar’s action was "rather destructive".

"Their action is blameable especially given the current market, and will compromise our trade relationship with this", Flamingo International said, adding that their debt to Spar was "ridiculous at this business level".

Spar came on the Romanian market in 2006 and presently manages 21 units.