Debt-plagued Hellenic Sugar Industry S.A. is expected to file for bankruptcy protection (Article 106B and 106d) by Friday, as part of a major restructuring plan proposed by its primary creditor, Piraeus Bank.
In confirming recent “N” reports, a restructuring plan by a Lukas Fecker investment scheme is judged as unattainable, due to time constraints.
Meanwhile, Hellenic Sugar is expected to sublease its Platy plant in northern Greece for the upcoming cultivation season to a sugar beets farmers’ cooperative.
