Brief: Duroc Subsidiary Launches Insolvency Proceedings

Duroc AB

14/03/2023 12:11

March 14 (Reuters) - Duroc AB  DURCb.ST :
    * GRIFFINE LAUNCHES INSOLVENCY PROCEEDINGS
    * DUROC'S GRIFFINE ENDUCTION WITH OPERATIONS IN FRANCE,
LAUNCHES A
"REDRESSEMENT JUDICIAIRE", A FORM OF RECONSTRUCTION PROCESS IN
ACCORDANCE WITH FRENCH INSOLVENCY LAW
    * WRITE-DOWNS OF TOTAL VALUE OF GRIFFINE IN CONSOLIDATED
INCOME
STATEMENT HAVE ALREADY BEEN CARRIED OUT IN PREVIOUS QUARTER
    * FOR DUROC, PROCESS MEANS THAT A SIGNIFICANT SOURCE OF LOSS
DISAPPEARS AND THAT FINANCIAL KEY FIGURES ARE STRENGTHENED PRO
FORMA
    * DUROC'S HOPE IS THAT THIS NOW INITIATED PROCESS WILL
ENABLE
ANOTHER PARTY TO TAKE OVER ALL OR PARTS OF BUSINESS FOR
CONTINUED OPERATION

Source text for Eikon:  ID:nWkr6Nmr7Q 
Further company coverage:  DURCb.ST 

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