Embattled printing firm Kossuth Nyomda will be shut down by the end next month after a second attempt to sell the company failed, TM-Line Kft, the liquidator, announced yesterday.
Kossuth Nyomda Zrt , which has registered capital of Ft 930 million, was adjudicated bankrupt by a Budapest court in June this year after it defaulted on its Ft 3.5 billion debt to contractors. The liquidator plans to sell the company’s assets separately, including a printing press for Ft 2.9 billion, an office building for Ft 500 million and the company’s holiday resort south of Budapest for Ft 40 million. Last year Kossuth Nyomda registered a loss of Ft 100 million on sales of Ft 4 billion. Currently it has 176 employees. (Napi Gazdaság)
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.