KTech/UltraPro is an IT&C retailer in Romania that went almost bankruptcy due to their bet on the real estate market. With huge money blocked in real estate adventures, they didn’t had enough liquidity to sustain operations in an highly expensive Romanian credit market.
I was surprised one year ago to learn that UltraPro (remember it’s an IT&C retailer) is building a residential park. If you are a good businessman in one field don’t assume you can do the same in other fields. That’s one lesson that those managers have to learn. Second, if everybody is making money out if it, it doesn’t necessary mean you will do the same.
