Poland's Rafako files for bankruptcy

Rafako SA w upadlosci

26/09/2024 08:57

Sept 26 (Reuters) - Poland's Rafako  RFK.WA  announced
its decision to file for bankruptcy on Thursday, sending shares
in the boiler maker down by almost half. 
    After almost a year trying to recover financial stability,
Rafako said it had exhausted all possibilities to reach
agreement with its key creditors.
    Rafako initiated bankruptcy proceedings in January 2023,
after Tauron  TPE.WA  demanded a consortium led by Rafako pay
1.3 billion zlotys ($339.84 million) in penalties and damages in
connection with a construction project at the Jaworzno Power
Plant.
    The company's shares were down by 46% as of 0835 GMT.
    ($1 = 3.8253 zlotys)

 (Reporting by Olga Sawczuk; editing by Jason Neely)
 ((Olga.HelenaSawczuk@thomsonreuters.com; +48 58 746 92 48;))