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Herz Salami ordered under liquidation

Budapest's Herz Salami Factory, one of the country's oldest meat companies, has been ordered under liquidation, the company said in a statement sent to MTI on Wednesday.

János Jámbor, the Herz Salami Factory's majority owner, is still striving to reach agreements with the company's bank and its suppliers in the interest of restarting production, the statement said. Herz is not in trouble because of meat industry problems, but because its working capital financing was stopped, it stressed.

Herz said a month earlier that a decision by the European Commission giving its flagship product Budapest winter salami “protected designation of origin” status would boost sales 20-30%. (MTI-ECONEWS)