Bankruptcy threat to Gdynia yard

Alan Heath
10-10-2002, 00:00

The Gdynia shipyard, until very recently one of the jewels of the Polish economy and one of the best performing yards in the world, is today threatened with going under. Gdańsk based Pretor has applied for its bankruptcy. The shipyard is perhaps not too worried at present as its suppliers would gain little from collapsing. Survival of the ship maker now depends on gaining the confidence of the banks again and the conversion of government guarantees from fancy political talk into fact.

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