Inapa Says Board Decided to File for Insolvency in Coming Days

Portuguese paper distributor Inapa–Investimentos, Participacoes e Gestao SA says its board decided to file for insolvency, according to a regulatory filing.

• Insolvency filing to be formalized in coming days
• Inapa also says subsidiary Inapa Deutschland will be filing for insolvency on July 22 due to a short-term cash shortage in the amount of €12m, for which no financing solution was found within the period established in accordance with German law
  • “Aware of the immediate impacts the insolvency filing of Inapa Deutschland will have on Inapa IPG, the board of directors of Inapa IPG met and analyzed its financial situation, ...