Romanian lingerie brand Jolidon International has filed for insolvency once again, marking its second financial collapse in a decade. The company, founded by entrepreneur Gabriel Cîrlig, announced its intention to reorganize operations and settle outstanding debts through a structured recovery plan, according to filings reviewed by Profit.ro.
The brand operates 45 stores across Romanian cities and reported 2024 revenue of 57.98 million lei, alongside a first-ever loss of nearly 750,000 lei in over 12 years. Total liabilities reached 29.17 million lei, prompting the insolvency filing.
This development follows a similar pattern for Cîrlig, who previously oversaw the insolvency resolution of Jolidon in 2022 through the CITR team led by Andrei Cionca. That process resulted in the sale of valuable central Cluj land, factory closures, and the loss of the brand’s identity.
Industry analysts note the recurrence raises concerns about sustainable business models in Romania’s retail sector, particularly for heritage brands navigating post-pandemic consumer shifts.
Romanian lingerie brand Jolidon International has filed for insolvency once again, marking its second financial collapse in a decade. The company, founded by entrepreneur Gabriel Cîrlig, announced its intention to reorganize operations and settle outstanding debts through a structured recovery plan, according to filings reviewed by Profit.ro.
The brand operates 45 stores across Romanian cities and reported 2024 revenue of 57.98 million lei, alongside a first-ever loss of nearly 750,000 lei in over 12 years. Total liabilities reached 29.17 million lei, prompting the insolvency filing.
This development follows a similar pattern for Cîrlig, who previously oversaw the insolvency resolution of Jolidon in 2022 through the CITR team led by Andrei Cionca. That process resulted in the sale of valuable central Cluj land, factory closures, and the loss of the brand’s identity.
Industry analysts note the recurrence raises concerns about sustainable business models in Romania’s retail sector, particularly for heritage brands navigating post-pandemic consumer shifts.
