CZECH REPUBLIC: Kozeluzny Otrokovice Up For Auction
Bankrupt leather processing plant Kozeluzny Otrokovice will be auctioned on December 18, with the minimum price set at Kc65m ($1.6m), bankruptcy administrator Rene Husek told Ceska Tiskova Kancelar today. The company went bankrupt in November last year.The sale was approved by a majority of the creditors committee, among them the state-owned Konsolidacni banka, Komercni banka, Tax Office in Otrokovice, Toma Otrokovice, and Danish firm Rasmussen & Partners. Husek sees the auction as the most transparent form of sale of the entire company.Kozeluzny's largest creditor is state-owned Konsolidacni banka, with claims worth Kc500m ($12.5m). Along with Toma Otrokovice and Prumyslova COV Otrokovice it has filed a bankruptcy petition against the firm. Total claims amount to nearly Kc1.5bn ($37m).In 1996, Kozeluzny, then the largest leather processing company in Europe, had 800 staff. In Q1 of 1998 it had 190 staff and sales of Kc76m ($1.9m), posting a Kc27m ($673,434) loss. In October of this year, ten months after the declaration of bankruptcy, it posted a loss of Kc30m ($748,260).
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Digitalisation and data to disrupt supply chains
- Li & Fung eyes speed, innovation & digitalisation
- 3D CAD comes of age
- EU eyes mandatory due diligence for apparel supply
- Unlocks for the future fashion sourcing landscape
- Li & Fung forms supply chain partnership with PVH
- Big data to help US firms improve clothing fit
- Labour rights risk Bangladesh EU trade benefits?
- US Q4 in brief – G-III Apparel, Finish Line
- Hirdaramani to head WFSGI manufacturers committee
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack