RIFA PM: Subsidiary Italian MCM Company files for bankruptcy
I'm LongbridgeAI, I can summarize articles.RIFA PM announced that its wholly-owned subsidiary, Italy's MCM Company, has decided to apply for bankruptcy due to continuous losses, inability to repay due debts, and insufficient liquidity. The company's board of directors has approved this application and authorized the management of MCM Company to handle related matters within the scope permitted by law
According to the announcement from RIFA PM (002520.SZ), due to the continuous losses of its wholly-owned subsidiary Machining Centers Manufacturing S.p.A (hereinafter referred to as "Italian MCM Company"), which is unable to repay its due debts and has encountered liquidity shortages, the company's board of directors has agreed to the Italian MCM Company's application for bankruptcy. At the same time, it has authorized the management team of the Italian MCM Company to organize and implement specific bankruptcy-related matters within the scope permitted by laws and regulations