Herz trying to reach an agreement with creditors

By: trademagazin Date: 2009. 06. 25. 00:08

The owners of Herz Salami Factory are trying to reach an agreement with creditors prior to the liquidation process. If the agreement is made, the company may survive – Világgazdaság pointed out.

The Herz Salami Factory, one of Hungary’s oldest and most illustrious salami producers, lacks sources of credit to finance normal production, and the company has been unable to come to an agreement with its most significant creditor, CIB Bank. In case the agreement is still made, it is possible to keep the company in its current form. Shareholders has spent over 400 million HUF on Herz since August last year and they are willing to undergo further investments, provided the agreement is made. 

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