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Mon, 20 October 2014 22:01:26
Sri Lanka porcelain firm mulls liquidation
10 Jun, 2010 14:48:58
June 10, 2010 (LBO) - Sri Lanka's Dankotuwa Porcelain, an export tableware firm that has been priced out of markets due to rising labour costs said it was finding it difficult to repay debt or bring in a new investor.
Dankotuwa Porcelain said it had considered liquidation under Sri Lanka's company law but the board of directors had decided look for alternatives, the firm said in a stock exchange filing.

It had requested a halt to trading on its shares until June 16, when it would decide whether or not to liquidate the firm.

The stock exchange filing said it was in talks with an investor, who wanted a 3-year wage deal with workers but the firm had not been able to reach one.

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