Rafako declared bankrupt by the court

The District Court in Gliwice declared the bankruptcy of Rafako, ending its attempts at debt restructuring and battling deteriorating financial liquidity. The company had filed for bankruptcy in September, citing a failure to reach agreements with key creditors on converting debt into shares through a capital increase.

Efforts to develop an alternative restructuring plan to significantly reduce debt, restore positive equity, and regain financial viability also fell short. Additionally, Rafako noted it could no longer finalize agreements with creditors within the timeframe necessary to maintain uninterrupted operations due to worsening liquidity. Following the court's ruling, Rafako's shares dropped by over 10% on Thursday.

(pb.pl)