Bucharest Court of Justice named the insolvency-specialized company Casa de Insolventa Transilvania (CITR) as judiciary administrator for Staff Collection and Corssa companies, operating the fashion networks of House of Arts, Fox, Levis and Eponge brandsThe two companies submitted the insolvency files and CITR is expected to start the reorganization planning for the two. Staff Collection posted loses above EUR 4.5 million at the end of 2010 , for a turnover worth EUR 13.7 million. The company was established in 1994 by two Romanian sisters, and three years ago, numbered 60 shops and a turnover worth EUR 20 million. Last year, Corssa, also a company established by the two sisters, and managing the other brands, Fox, Levis and Eponge Fashion Paris, posted a loss worth EUR 3.9 million in 2010. There are over 3,000 employees working for the two companies.
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