Gruppo Baglietto liquidation...

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Gruppo Baglietto liquidation...

Industry News

It includes the Baglietto La Spezia and Varazze yards, as well as Cantieri di Pisa.

MARCH 2010

The failure will not come as a surprise to most industry watchers. There have been all sorts of publicized moves made over the past year or so to save the operation. But just recently the last potential acquirers of the business as a going concern pulled out because the loss-making group’s debts are simply too high. Its total debt burden is said to be in the region of €120 million.

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© Phil Draper