The Polania shoe factory in Gniezno (central Poland) has gone bankrupt. Once Poland's leading ladies footwear manufacturer, Polania was faced with mounting financial problems caused by poor sales of its footwear. The factory had its 'Golden Years' in the early ‘90s when shoe wholesalers and distributors were queuing up at the factory gates to get their shoes. Despite changes of management and cost cutting measures, the company finally gave up. The factory will go for sale by appointed the liquidator either as a going concern or, if needs be, on an asset-by-asset basis.

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