Bankrupt Avans

The End is Nigh?

The End is Nigh?

A district court has decided to secure the property of Domex, the owner of the Avans chain of stores. The owners have filed a bankruptcy petition. If the court agrees, the company will still operate, but the creditors will expect a quick return so clients can count on discounts. Before the court can consider such a motion there are procedures that have to be conducted before the final decision. “The court has established a temporary court supervisor,” said Zygmunt Dudziński, spokesman of the Regional Court in Tarnobrzeg. The decision is not binding yet. The temporary court supervisor will attend to his duties after the decision becomes final and binding. The spokesman said that “after the finalisation of proceedings by the supervisor, the court will set a date of the next court session, during which it will probably examine the debtor’s petition. According to Dudziński, “the realistic deadline for this is mid-June, on condition that everything will be ready by this time and all materials will be gathered”.
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