What is the risk of Rafako’s collapse?

What is the risk of Rafako’s collapse?

The declaration of bankruptcy of Rafako is one of the scenarios under consideration.

Recent events suggest this type of considerations. First of all, not all creditors agreed to the arrangement proposals presented as part of the ongoing restructuring proceedings. In addition, the company has terminated two contracts worth several dozen million zlotys.

If the bankruptcy scenario materialized, it would have a number of financial consequences. The state budget and the local government budget would be deprived of tax revenues. The losses would also be suffered by other Polish companies related to Rafako and the company’s existing employees who would lose their jobs.

In December last year, Rafako representatives applied for public aid granted by the Industrial Development Agency under the New Opportunity Policy program. They are currently pending the consideration of documents and a decision.

Source: https://businessinsider.com.pl/firmy/rafako-jest-na-skraju-upadlosci-konsekwencje-upadku-i-straty-spolek-skarbu-panstwa/sl34xy4

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