German Pellets filing for bankruptcy
February 10, 2016
By
Andrew Snook
February 10, 2016 - German Pellets, one of the world’s leaders for the manufacturing of wood pellets for heating applications is planning to file for bankruptcy, according to Handelsblatt, Germany’s leading business and finance daily.
The company’s decision to file for bankruptcy stems from taking on too much high-interest debt. German Pellets borrowed €226 million to fuel its expansion plans with the company’s next bond payment due on April 1, which was borrowed at an interest rate of 7.25 per cent, according to the article.
To read the full article by Handelsblatt, click here.
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