Romanian steel producer Liberty Tubular Products Galati, a subsidiary of Liberty Galati, has filed for bankruptcy protection as it struggles with severe financial challenges.
On August 13, the Galati Court approved a four-month suspension of enforcement actions, during which the company must present a restructuring plan within two months.
The company is facing serious liquidity problems, which have delayed salary payments and led to the suspension of most operations. The development raises further concerns about the financial health of Liberty Galati and the broader stability of Romania’s steel industry.
Romanian steel producer Liberty Tubular Products Galati, a subsidiary of Liberty Galati, has filed for bankruptcy protection as it struggles with severe financial challenges.
On August 13, the Galati Court approved a four-month suspension of enforcement actions, during which the company must present a restructuring plan within two months.
The company is facing serious liquidity problems, which have delayed salary payments and led to the suspension of most operations. The development raises further concerns about the financial health of Liberty Galati and the broader stability of Romania’s steel industry.
VietnamSteel by Hoa Sen Group
