Vulkan Partizánske enters bankruptcy with 3.6 million euro debt

Vulkan Partizánske, a traditional Slovak manufacturer of rubber compounds and footwear, has entered bankruptcy following a period of sustained financial losses. The company's collapse was triggered by the restructuring of its key French customer, Bensimon, which previously accounted for nearly 40 percent of the firm's total revenue.

Creditors have filed claims totaling approximately 3.6 million euros. The largest single creditor is 365. bank, with claims amounting to 2.2 million euros. Other creditors include Eximbanka, Kvartet, and the Social Insurance Agency, which is owed nearly 140,000 euros. The bankruptcy administrator has identified company assets valued at approximately 4.9 million euros, including machinery and vehicles valued at 1.3 million euros.

The insolvency has resulted in the loss of jobs for approximately 100 employees across operations in Partizánske, Detva, and Hrušov. The company, which held the well-known Novesta brand, had not recorded a profit since 2015.