Grup Şerban Holding SA (GSH), a company listed on the AeRO Premium market of the Bucharest Stock Exchange, announced on Thursday that three of its subsidiaries – Şerban Distribuţie SRL, Fyn Invest Danmark SRL and Luma Land SRL – intend to submit requests to open insolvency proceedings at the competent court in the immediate future. The decision comes approximately one month after Interagroaliment SRL, one of the main companies in the group, entered insolvency on April 23, 2026. According to the current report 14/2026 published on Thursday at BVB, the three subsidiaries are affected both by the operational dependence on Interagroaliment and by the guarantee obligations assumed jointly for a syndicated loan of 69.9 million euros. The most exposed seems to be Şerban Distribuţie, which provides agricultural works and grain transportation for the companies in the group, owning the largest part of the fleet of machines and trucks. The company has already implemented personnel restructuring and conserved the truck fleet after Interagroaliment stopped its grain trading activity. Şerban Distribuţie also initiated negotiations with suppliers and leasing companies to avoid operational blockages. You might also be interested: The situation of the other two subsidiaries is less complicated from an operational point of view. Fyn Invest Danmark, which has no employees of its own and operates in organic agriculture, will continue to operate under the same conditions for the duration of the procedure. Luma Land owns about 30 hectares of agricultural land that it leases to an affiliated company – its only source of income – and does not record significant operational costs. The group states that the purpose of these actions is to protect the continuity of agricultural activity and preserve assets, not liquidate them. Şerban Holding has a capitalization of 107 million lei.
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