Monday, June 17, 2013

Reuters: Bankruptcy News: Spain's La Seda de Barcelona files for insolvency

Reuters: Bankruptcy News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Spain's La Seda de Barcelona files for insolvency
Jun 17th 2013, 12:19

MADRID, June 17 | Mon Jun 17, 2013 8:19am EDT

MADRID, June 17 (Reuters) - Spain's La Seda de Barcelona, LSB, which makes plastic bottles in Europe, Turkey and North Africa, said on Monday it had filed to begin insolvency proceedings after failing to reach an agreement with its creditors.

LSB said it has been in talks with banks since September last year after its business ran into trouble because of high raw materials costs and excess supply of the PET plastic containers that it makes.

La Seda has an estimated debt load of 600 million euros ($800.4 million). ($1 = 0.7496 euros) (Reporting by Fiona Ortiz; Editing by Paul Day)

You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

 
Great HTML Templates from easytemplates.com.