Parád Kristály put up for liquidation again, with no asking price
Wednesday, October 5, 2005, 18:37
Parád Kristály, a 300-year-old Hungarian maker of fine crystal, is being put up for liquidation again, this time without an asking price, bailiff Benedek Pintér announced on Wednesday. Offers must be submitted by October 10. Several investors have already expressed interest in the company, Pintér said. Parád Kristály's liquidation was announced early in 2005, after the company generated losses for several years and accumulated a stock of liabilities and loans reaching Ft 300 million, but no valid offers were submitted in a tender for the company where the asking price was Ft 318.5 million. Production at Parád Kristály's factory, which employs 380 people, was shut down in August. The company was state-owned until December 2004, when it was bought by privately-owned Hungarian company Saye.