PKP Cargotabor is having a difficult time determining its future business plan. Following in the footsteps of parent company PKP Cargo, the maintenance subsidiary was plunged into financial trouble as orders faltered. It opted for restructuring to safeguard financial stability, but has now already changed its mind twice on the matter.
The maintenance company applied for restructuring in early August, but it was relatively quick to withdraw the application on 9 August. Now, three weeks later, the company has changed its mind again. “The subsidiary company decided to withdraw the declaration of withdrawal of the application to open the restructuring proceedings”, PKP Cargotabor announced. In other words, it is applying for restructuring after all.
Failure to pay energy bills
The company got into financial trouble following a severe downturn at its parent company PKP Cargo. The latter subsequently reduced its orders with PKP Cargotabor, which then also ended up struggling with its finances.
The situation got so bad that power was cut off at the majority of its plants. “In Dąbrowa Górnicza, the power was completely cut off. […] In Tarnowskie Góry, on the other hand, due to the power outage, renovations were stopped in one of the two halls”, a trade union representative said in early August. Reportedly, the company did not pay its energy bills.