The Board of Utenos Trikotazas Proposes to Shareholders to Approve the Restructuring of the Company
The Management Board of Utenos Trikotazas (hereinafter – the Company) has decided to submit a proposal to the shareholders to initiate restructuring of the Company. The restructuring would be intended to ensure the company’s solvency and long-term business potential.
Global Shocks Affected Demand
“Pandemic, war, energy and other price shocks, and weakened demand have negatively impacted the textile sector globally over the past few years. Particularly in Europe, where producers are under further pressure from cheap labor countries in Asia. Utenos Trikotazas is no exception. A significant drop in demand and a lack of decisive action would …
Read the full article at: https://www.globenewswire.com/news-release/2024/07/05/2908889/0/en/Management-Comment-on-the-Initiation-of-Restructuring.html