BBJ
Wednesday, September 21, 2016, 09:50
Retail store operator Palóc Nagykereskedelmi, which announced last week that Hungarian-owned retail chain CBA had canceled its franchise contract for all its 80 stores, reportedly voluntarily filed for bankruptcy at a local court in Balassagyarmat yesterday. Last week the company had said its stores would reopen this week.
The Balassagyarmat courts press secretary József Soós said the company is now under a temporary payment moratorium, and if the court accepts the companys filing, a trustee will be appointed to manage it, Hungarian news agency MTI reported late yesterday. According to Soós, several creditors of the company have also asked for its liquidation.
Last week, CBA charged the franchise pa…
Read the full article at: http://bbj.hu/business/canceled-cba-franchise-holder-files-for-liquidation_122281
