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18-11-2019, 08:53 UTC
[25.01.2010 18:59 UTC] Více autorů
Clothes manufacturing giant placed under insolvency regime

The Czech Republic’s biggest clothes manufacturer has been made subject to insolvency rules. The regional court in Brno decided the move at the request of OP Prostějov on Monday. The move follows the company’s failure to win a four-month breathing space from three banks which are its main creditors. The clothes manufacturer, which employs around 1,500 people, has racked up debts of around 1.6 billion crowns — more than its total annual turnover. The insolvency regime gives a framework for a deal with creditors to be found and protects against an immediate seizure of assets.