Avtomontaza Bankruptcy Officially Declared

Ljubljana, 30 December - COMPANIES/AVTOMONTAZA/BANKRUPTCY
The Ljubljana district court on Thursday declared the bankruptcy of the Ljubljana-based bus maker Avtomontaza. The petition in bankruptcy was filed because of the company's debts, which amounted to almost SIT 8 billion (DM 80 million). Some 550 workers, who have not been payed for the last six months, lost their jobs.