Bankruptcy Declaration of [Company Name]: Implications, Reasons, and Effects Explained

2023-10-31 13:07:43

Last June, the company submitted a request for a judicial reorganization procedure (PRJ) to the Liège business court. As reported by L’Echo and RTBF, this same court declared bankruptcy on Monday.

Read also Les Ateliers de la Meuse, in Liège, towards a judicial reorganization: “The financial situation is not very good even though there are orders”

85 people employed

In June 2023, Farouk Chennit, permanent secretary CSC METEA, explained to us: “The financial situation is not very good although on the industrial level, there are orders. To the point that, if there were not this financial problem, the company could even hire. The problem is the lag between inputs and outputs. With regard to large orders, when there are problems with the delivery of goods or procedures with customers and, at the same time, money has to be advanced, there quickly arises a deficit that is difficult to absorb by the Company “.

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