Alfacam files for Chapter 11 protection

OB services provider Alfacam has filed for Chapter 11 bankruptcy protection after negotiations with a potential investor ended on Monday.

“The negotiations with the investor were not favorable,” said Alfacam founder Gabriel Fehervari, adding that the investor was not the only candidate and that negotiations with others will continue.

Alfacam shares on the Brussels stock exchange were suspended on Tuesday morning as the company now has debts of 58 million Euros. Trading will resume once the court rules on the petition for judical reorganisation.