The Győr Court of Appeal has appointed a liquidator to oversee the winding up of Integrál, one of Hungary’s largest building companies, after a contractor went to court over an unpaid Ft 8 million debt, reports hirtv.hu.
Integrál, which in April still had some 350 on staff, has been struggling to pay off debts to subcontractors since last October and owes multiple months’ of unpaid back wages to employees.
The company recently took out a Ft 14 billion loan to build a five-star Ramada hotel in Hévíz, west Hungary, but the project was put on hold for lack sufficient funds.