The Netherlands: Alfra Glas declared bankrupt

Dutch glass wholesaler Alfra Glas, in Drachten, northern Netherlands, was declared bankrupt on 12 May 2005, receiver T. Detmar said.
The owners of the bankrupt firm will start a new glass wholesale u…

Dutch glass wholesaler Alfra Glas, in Drachten, northern Netherlands, was declared bankrupt on 12 May 2005, receiver T. Detmar said. The owners of the bankrupt firm will start a new glass wholesale unit at the same location, Detmar added. Alfra Glas has been in difficulties for some time and the local tax authorities sold the company“s building and movable assets in an auction several months ago. The buyer of the building, a real estate trader, leased it back to the company owners. The sold inventory has also been leased back to Alfra Glas to enable the owners to start a new glass wholesaling business. Alfra Glas was established in 2002. Although it formerly employed six people, at the time of the bankruptcy, only the two proprietors were working in the business.