Próchnik files for bankruptcy, awaits restructuring ruling
01:01
Clothes producer Próchnik filed with the District Court in Łódź for the bankruptcy of the company - Próchnik informed in a statement. At the same time, the Management Board requests that the application be withheld until the court issues final ruling regarding the company's earlier restructuring application.
The main guidelines of the restructuring plan, presented in the application submitted on March 27, 2018, are the sale of all assets that are not directly necessary for the continuation of the business, focus on the development of the Próchnik brand and the sale of the Rage Age brand.
According to the plan, the company will return to outerwear as the core part of the Próchnik brand offer and will put emphasis on building brand recognition as an expert in this segment.
