CFR Marfă announces losses of 4 million lei and debts of 3.11 billion lei, preparing for insolvency in 2025, after five years of preventive composition agreement

Rail freight company CFR Marfă is facing estimated losses of 4 million lei and debts of 3.11 billion lei, announcing its intention to go into insolvency in 2025. Although total revenues are forecast at 820 million lei, expenses are falling and the number of employees will be significantly reduced. The company has been in composition with creditors for five years, and is now preparing to open insolvency proceedings in order to restructure its debts and optimize its business.