CZECH REPUBLIC: Stival Ends Footwear Production
Stival Napajedla, one of the largest and best-know Czech footwear producers, has decided to end own shoe production as it sold its shoe plant in Veseli nad Moravou, where it made most of its shoes, to Penta Shoe run by Stival's ex-managers, the daily Mlada fronta Dnes (MfD) reported. "The managers who were in charge of the shoe factory in Veseli were given a choice: either they take over the production or the company will be wound up. Rumour has it that the holding company itself will end up in liquidation and only the sales network will remain," MfD quoted an unnamed source familiar with Stival's situation as saying.
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