Window maker Glaskek is facing bankruptcy

Window maker Glaskek is facing bankruptcy now that its large creditor Swedbank, the largest bank in Estonia, has lost faith in the restructuring of the company and on June 22 filed the company for bankruptcy, writes

Lars Nilsson who heads Swedbank’s Baltic unit that manages high business risks said that Swedbank had been actively involved in looking for solutions with Glaskek since last autumn.

Nilsson said that the bank and Glaskek had been jointly analysing the possibilities to restructure the company, but after an in-depth study, the bank no longer sees a possibility to restructure Glaskek into a viable business by restructuring.

Read more from BBN

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