Vitkovice Power Engineering files for “reorganization“ bankruptcy

18-08-2016

Vitkovice Power Engineering has filed for “reorganization“ bankruptcy. The company owes hundreds of millions of crowns to over 700 creditors. It currently employs over 1,000 people. The regional court in Ostrava which was scheduled to deal with a proposal for bankruptcy by one of the firm’s biggest creditors Westag Invest on Friday has cancelled the hearing.