RHS Company

Case status: Bankruptcy

Founded in 1999, 100% Romanian investment capital, RHS Company is one of the most important suppliers of IT parts, accesories and systems suppliers in Romania, with branches in Timişoara, Cluj-Napoca, Constanţa, Bacău, Galaţi, Suceava, Braşov, Ploieşti, Iaşi şi Craiova and representation in Holland, Macedonia, Serbia and Bulgaria.

Bucharest Court of Law approved insolvency procedure opening for RHS Company on the company request. The IT distributor, with over 80 million EUR turnover in 2010 and with registered profit in the last 3 years, had the accounts blocked due to unpaid VAT fraud suspicion.

Insolvency was due not to profitability issues but to a fraud suspicion of 97 million lei. The suspicion addressed RHS, Scop Computers and Romsoft companies, the main players on Romanian IT market.

Considering the solvency degree of RHS it is to be expected that creditors are to recover the debts based upon a carefully designed reorganization plan.