Founders of the Calif restaurant brand have sold the last two operational units of the chain—specifically the leased spaces where they operated—along with the Calif brand.
The two restaurants are open in the Iancului and Militari areas of Bucharest.
The Calif chain was launched in 2010 by local entrepreneurs Radu Tănase, Bogdan Jantea, and Alexandru Stoichițoiu. The company that operated the Calif brand entered insolvency at the beginning of this year. Subsequently, in May, it was declared bankrupt on the grounds that, although it had declared its intention to reorganize, it failed to submit a reorganization plan. The entry into insolvency was decided after business decreased, amid coronavirus pandemic restrictions, from 31 million RON in 2019 to 11.3 million RON last year.
Frequently Asked Questions
Who founded the Calif restaurant chain?
The Calif chain was founded in 2010 by Romanian entrepreneurs Radu Tănase, Bogdan Jantea, and Alexandru Stoichițoiu.
Why did the company operating Calif go bankrupt?
The company was declared bankrupt in May after failing to submit a reorganization plan following a sharp revenue drop caused by pandemic restrictions.
Which Calif locations were included in the sale?
The sale included the brand and the last two functional units located in the Iancului and Militari neighborhoods of Bucharest.