Three out of four plants of Zabudova holding stopped working
One of the largest construction holdings is in crisis through debt.
Its management hopes that the state will help get out of that vicious circle, because it owns a 64% stake in Zabudova, writes The Regional Newspaper.
Genrykh Kutas, Deputy Director General in the ideological work, said that the problem is that for a long time the company has borrowed money at high interest rates. Now most of the working capital is spent on their repayments. At the same time, there are buyers who owe money to Zabudova for the goods already shipped.
Three Zabudova plants - of building structures, building materials and roof tiles - have stopped its operations. Of the four plants belonging to the holding only the woodworking one works. There are components for its work. Many workers have had their workload and salaries reduced by one third.
Photo — gkds.ru
