Tuesday, 6 October 2009

La Seda de Barcelona announcement today?

There are rumours in the market that troubled PET producer La Seda de Barcelona may have breached its bank covenenants with an announcement due out today (6 October).

These are unsubstantiated rumours so I'd love to hear from anyone who can tell me if this is true or false. Please contact me by e-mail at will.beacham@icis.com

Shares in La Seda were suspended earlier this year in a dispute about 2008 accounts. Its UK operation, Artenius, entered bankruptcy proceedings too and is being administrated by Deloitte.

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