Would be bidders sought for parts of major Czech engineering firm

An insolvency manager has called for would be bidders for parts of one of the Czech Republic’s biggest engineering companies, Vítkovice Power Engineering, to register their interest by August 21. A court earlier this week approved the start of bankruptcy proceedings at the firm after they were requested by managers. They argued that attempts to keep the company alive through reorganisation were pointless. Vítkovice Power Engineering employs around 800 and is renowned for its nuclear engineering operations. Creditors have registered claims of around 71 billion crowns.