Herz to liquidate?

Liquidation initiated against the 120 year old Herz Salami Ltd. The company was unable to agree with its financing bank.

In accordance with the knowledge of Népszabadság, one of the supplier of Herz provided the application, due to a not paid invoice of about two million forints. According to Nagy Endre Chief Executive Officer of Herz, the company did not submitted an appeal against the liquidation application, because the company is still discussing with its only sponsor, the CIB Bank. Herz is not able to give more guarantee to the bank, because the lien over the assets belongs to the  bank – states the CEO of Herz Salami Ltd.