Stilo Energy in restructuring

The Board of Directors of Stilo Energy announced its intention to open proceedings for the approval of a composition agreement.

Bank Pekao did not extend the company’s agreement to suspend the enforcement of claims. As a result, it will be entitled to initiate debt collection activities and demand from Stilo Energy repayment of the loan taken in the amount of 6 million PLN. The company has used it in the amount of about 3.36 million PLN. Therefore, Stilo Energy has initiated actions to open proceedings for approval of the composition agreement under the amended provisions of the Restructuring Law.

In mid-May, the company announced the start of a review of strategic options. Two days earlier, its CEO in a quarterly report informed about the possible deterioration of the liquidity situation of the company as a result of a decrease in sales.

Source: https://www.pb.pl/stilo-energy-idzie-w-uklad-z-wierzycielami-1151989