Reuters: Bankruptcy News: Polish retailer Bomi files for bankuptcy protection

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Polish retailer Bomi files for bankuptcy protection Jul 10th 2012, 17:47 WARSAW, July 10 | Tue Jul 10, 2012 1:47pm EDT WARSAW, July 10 (Reuters) - Polish retail chain Bomi filed for bankruptcy protection on Tuesday after banks financing the company blocked its overdraft facilities, Bomi said late on on Tuesday. The group is a medium-sized retailer targeting more affluent clients with stores located in Poland's largest cities, including Warsaw, Krakow and Gdansk. In the past few months it has undergone restructuring and struggled with liquidity. "Submitting the motion is in the current situation the only scenario of continuing operations and saving over two thousand jobs across the country," Bomi said. Earlier on Tuesday Bomi said PKO BP, Pekao and BRE Bank refused to extend its access to an overdraft on current accounts. The group's shares lost 26 percent on Tuesday, adding to a loss of 77 percent in the year to date. (Reporting by Maciej Onoszko; Editing by Jon Loades-Carter)

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