Tonsil in talks to reschedule debt payments in bid to head off bankruptcy

Wrzesnia-based Tonsil has only a few days left to negotiate a new repayment schedule for debt reaching over zl.10 million with major creditor bank Pekao SA. Otherwise, the stereo-speaker producer, one of the first five companies listed on the Warsaw Stock Exchange, will go bankrupt. Tonsil management is hopeful, however, as Pekao has said it intends to support the company in a bid to head off bankruptcy and take part in the embattled company's further restructuring. According to Tonsil spokesman Jacek Zurawski, despite delays posed by a lack of financial means, changes to Tonsil's structure have already had some positive effect on the company's sales. (Parkiet, p.2) M.K.