Lukbut, formerly Poland’s leading producer of children’s footwear, has declared bankruptcy. Only a few years ago Lukbut was the third biggest Polish footwear manufacturer. Around 500 workers will lose their jobs from the main factory and other locations.

The company’s shares were listed on the Warsaw Stock Exchange (WSE) but because of well-publicised difficulties the value of shares had already dropped to nearly zero (see leatherbiz.com November 8, 2001: Tannery sues shoe factory).

There are currently only three firms from the leather and footwear sector listed on the WSE: Brzeg Tannery, Skotan Tannery, and LZPS in Lublin (footwear manufacturer).