Zabudova company declares bankruptcy

• 26.03.2015, 11:53

Zabudova, a famous building materials factory, has declared bankruptcy.

The company sends insolvency notices to its creditors.

Shareholders held a meeting on March 9 and took a decision to file a petition of bankruptcy of the holding company of Zabudova group of companies, the newspaper Rehiyanalnaya Hazeta writes.

The company launches a financial rehabilitation procedure to restore its solvency.

In accordance with the bankruptcy notice, the company’s solvency has been declining for the last few years. The company cannot pay bills, has a high financial risk, its current assets do not exceed the minimum permissible level and continue to fall.

The company owes around 288,313 million rubles to creditors. The debt to employees is more than 4 billion rubles. The group of companies employs 1357 workers in the village of Chysts.

Acting general director ordered to prepare and file an insolvency (bankruptcy) petition to the economic court of the Minsk region.