Mars bankruptcy is latest bad news from troubled sector

After the bankruptcy of Mega Avans and the unsuccessful IPO of Neonet, another company, Gorzów Wielkopolski based RTV Mars AGD, is facing serious financial problems. "The owner of Mars, Zdzisław Kałamaga, has submitted a motion for bankruptcy with the possibility of agreement with creditors," disclosed Marek Rafalski, Gorzów Wielkopolski regional court spokesperson. Kałamaga himself does not want to comment on the matter. It has not been revealed how many creditors the company has and what the value of the liabilities is. The cause of the firm's financial difficulties is also uncertain. According to unofficial sources, in the bankruptcy motion Kałamaga proposed that he would pay 50% of the debt. According to sector analysts, Mars' problems were brought on by the overexpansion of the firm, which disregarded the economic situation, the firm's capacities and the situation on the market. The biggest mistake was accumulating too much stock, which Mars then failed to sell. (Puls Biznesu, pp. 1, 4) A.F.