December 20, 2016 / 4:02 PM / 7 months ago

Slovenian state owner says hosiery firm Polzela to file for bankrupcty

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LJUBLJANA, Dec 20 (Reuters) - Slovenia's privatisation agency Slovenian Sovereign Holding (SDH) said on Tuesday that state-owned hosiery maker Polzela, which was put up for sale in October, will file for bankruptcy.

During the bankruptcy process SDH will continue to try to sell parts of the loss-making company, which employs about 220 people, after no bidders emerged.

"The company is insolvent ... so its management will file for bankruptcy," SDH said in a statement.

Polzela is one of about 30 companies the government wants to fully or partially sell off as part of its economic reforms. (Reporting By Marja Novak; Editing by Greg Mahlich)

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