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Partex SA Enters Bankruptcy Proceedings

Thursday, 15 Nov 2012 04:55pm EST 

Partex SA announced that on November 14, 2012, it filed in the District Court in Warsaw for entering bankruptcy in liquidation. The Company decided on its entering into bankruptcy proceedings, according to sale of unrotating goods, costs associated with the severance pays paid to employees in the period running from July to September, 2012 amounting to PLN 724,000 net with total revenues of PLN 388,900, failure of series C shares issue and lack of strategic investor. The Management Board claims that if the creditors of the Company will take part actively in the restructuring process of the Company, it will not rule out the conversion from liquidation proceedings to arrangement bankruptcy. 

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