Browary Górnośląskie goes on sale for the eleventh time

The last time the plant was on sale, the receiver requested zł. 15 million for the company, which was half the sum which was demanded less than a year earlier, although the company is showing profits. BG was put in a state of bankruptcy in 1998 when it recorded losses of zł. 40 million due to over investment. It was granted a loan to expand and modernize its production facilities, however, due to mismanagement it did not generate enough revenues to pay the installments. "Our debts have fallen from zł. 80 million to zł. 65 million over the past five years. We are repaying the money, chiefly to banks and the tax office," said Zbigniew Suliga, the receiver. The company recorded a net profit of zł. 2.3 million in 2003. (Parkiet, p. 3) A.K.