OKD says it has enough funds to cover employee wages for June

The management of mining company OKD, in bankruptcy, has assured employees they will receive full wages on time for the month of June. Payment is to be made next week. The company, mining hard coal, is suffering a shortfall in finances, owing some 17 billion crowns to at least 650 creditors. Company assets, are valued at less than seven billion. The CEO Dale Ekmark has warned that the situation will grow critical in July and that the company needs reorganization and a loan.

Author: Jan Velinger