FINLAND: Apparel Maker PTA Group To File For Bankruptcy
Troubled Finnish apparel producer PTA Group Oy has announced it will file for bankruptcy amid sliding sales and losses from investment in its Swedish stores. The company, based in central Finland, has already cut 70 jobs and in 2001 posted a 15 per cent fall in year-on-year sales. It added that it has plenty of orders but not the funds to produce them.