Romania’s largest steel plant, Liberty Galați, remains in a critical financial crisis as the Galați court extended its restructuring deadline by 30 days on July 7. The plant, under preventive bankruptcy since March 2025, now has until August to secure creditor approval or face full bankruptcy.

Liberty Galați owes over EUR400 million to more than 1,200 creditors, including EximBank (EUR300 million) and the ANAF tax service (EUR150 million). ANAF has twice rejected the restructuring plan, despite the company offering repayment over 42 months.

Liberty Galați’s debts have grown to nearly EUR860 million. Despite resuming thick sheet rolling mill operations in July, daily costs rose to EUR4 million, intensifying financial strain.