BELGIUM: 125 Jobs Axed At Bankrupt Textile Firm
Up to 125 workers will lose their jobs at troubled Gevaco Textile after a court declared it bankrupt on Friday. Gevaco, part of the Sofitex group, had filed for three months' protection from creditors while it looked for a buyer. But a judge sitting in Oodenaarde ruled that the chances of finding an investor for Gevaco were very small. Five curators have now been appointed to the debt-ridden company.
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