Elefant Online SA, which owns the Elefant.ro store, announced today to its investors at the Bucharest Stock Exchange that it has filed with the Bucharest Court, VII Civil Section, a request to open general bankruptcy proceedings, Economica.net reports. .

The company expresses its intention to propose a reorganization plan within the term stipulated by the law, while retaining the right to manage its own activities, Sergiu Chirka, acting general director of the company, said.

EvoMag missed the pickup

In November 2023, the e-commerce business evoMAG, controlled by Romanian entrepreneur Mihai Petrašku, announced that it was no longer buying the majority of elefant.ro.

This comes after elefant.ro announced in early May that its majority would be acquired by evoMAG.

Who is Elefant.ro?

The online store Elefant.ro was launched in 2010, becoming the leader of the online book market in Romania. The e-commerce platform has recently evolved into an “online mall” and marketplace, being a major player in the sale of perfumes, cosmetics, toys and watches.

The company was founded by the Bessarabian businessman Ion Sturza (63 years old), former Prime Minister of the Republic of Moldova in 1999.

Ion Sturza is the president of the board of directors of the online store Elefant.ro. He also heads Friborg Investment Limited, an investment group that is present in several European countries and controls Millennium.

Sturza is a graduate of the Faculty of Economics of the State University of the Republic of Moldova. He was also a member of the Chisinau Parliament, Minister of Economy and Vice Prime Minister and Prime Minister of the Republic of Moldova.

From 2001 to 2004, he held the position of General Manager of Rompetrol Moldova, and from 2004 to 2009, he held the position of Vice President and Deputy General Director of Rompetrol Group Holland.