Econcern files for suspension of payments

Econcern N.V. has announced that it has filed for suspension of payments (‘surseance van betaling’) in the Netherlands.

Econcern’s group financing facility expired on the 1st of April. The company sought a solution in close cooperation with shareholders and banks. That solution was not found. Suspension of payments allows the board of Econcern more time to secure a financing solution and negotiate options for the future of the company with interested parties.