Slovak electronics retailer Andrea Shop files for bankruptcy after debt restructuring fails

Andrea Shop, one of Slovakia's oldest and most prominent online electronics retailers, has filed for bankruptcy after failing to manage its debt restructuring plan. The company had appeared to be on track for recovery earlier this summer when creditors approved its debt relief proposal. However, the retailer ultimately could not sustain the restructuring process and has now initiated bankruptcy proceedings. The company had generated annual revenues of up to 50 million euros and employed 140 people at its peak, making it a significant player in Slovakia's e-commerce sector before its financial difficulties emerged.