Tire Maker Trayal to Restructure to Avoid Bankruptcy, Beta Says
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Serbian tire and chemicals producer Trayal Korporacija AD reached an agreement with creditors on a restructuring program that will help it avoid bankruptcy, Beta news agency reported, citing Deputy General Manager Nebojsa Djenadic.
“All creditors including commercial banks, the state and our suppliers have given their consent” to the proposed five-year plan to repay debts, without cutting Trayal’s 2,200 workforce, according to the report.