Siker Malomipari set to be wound up

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The bankruptcy procedure of milling company Siker Malomipari was ended by a court today, making way for a wind-up procedure, business newspaper Világgazdaság said today, according to Hungarian news agency MTI.

The firm’s owner, Ferenc Blazsek, previously placed the blame for the company’s financial troubles on tough competition in the sector, the withdrawal of its creditors, the failure of Széchenyi Bank and a fine from the Competition Office for over HUF 300 million, MTI said. 

The balance sheet of Siker Malomipari, ranked among Hungary’s five largest milling companies, showed liabilities of HUF 6.9 billion in 2014 according to MTI.

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