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The construction company Cmc is insolvent. Requested an agreement among creditors
03 December, La Stampa
After Astaldi, now it’s the turn of Cmc, the large construction cooperative, the fourth Italian group employing 9 thousand people. The company will have to decide whether to start the procedure to request the agreement among creditors.
In November, the group announced that it would have suspended the payment for the bonds reaching their maturity on 15th November due to insolvency amounting to 108 million euro.
Cmc closed the first semester of the year with profits dropped to 514.3 million and commissions for 1.34 billion.
Source: La Stampa
Translator: Cristina Ambrosi