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Printer Kossuth Nyomda to close

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)