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Toora on the verge of bankruptcy as it posts high loss

2007-10-09 00:00
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2007-10-09 00:00
The most pressing issue was the real threat of losing liquidity, as three weeks ago Fortis Bank annulled a zł.10 million loan granted to the company. Calyon Bank also annulled a zł.20 million loan yesterday, but the company negotiated with other banks and tried to divide the payments into installments.

Due to Toora's high bankruptcy risk much of its approximate zł.170 million debt could be written off by the banks as a bad debt. Toora's own capital stands at zł.90 million on paper, but according to company's auditor, its balance sheet lists machines and production lines worth zł.60 million that were never even brought to Poland from Italy. Italian owners of the firm are looking for a strategic investor willing to inject some capital into the company, but they also consider disposing of some property.


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Miejski model Ford Puma. Trwa wyjątkowa wyprzedaż

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