Soft drinks manufacturer Hellena runs out of fizz

"Regretfully, shortly before midnight negotiations with a potential investor, Czech Kofola, ended in a fiasco," said Malgorzata Duleba, judiciary supervisor of Hellena. The reason for withdrawal of the investor were too high costs related to financing the settlement with creditors, as the Czech company was willing to pay a substantial share of liabilities, they were put off by the high current liabilities of the firm. "Carrying out the settlement is currently not possible. To finance it one would have to spend zl.87.9 million," said Duleba. The enterprise will now be liquidated and a relevant decision is likely later this week, while the assets will be eventually auctioned off. The prosecutor is also analyzing irregularities related to the way the company was run. (Puls Biznesu, pp. 1, 4-5) M.M.