Kieleckie Kopalnie Surówców Mineralnych (KKSM)

Type
Bankruptcy
Country
Poland
Region
Makroregion centralny; Świętokrzyskie; Kielecki
Location of affected unit(s)
Kielce
Sector
Mining / Quarrying
08 - Other mining and quarrying
08.1 - Quarrying of stone, sand and clay
08.11 - Quarrying of ornamental stone, limestone, gypsum, slate and other stone
400 jobs
Number of planned job losses
Job loss
Announcement Date
11 May 2012
Employment effect (start)
11 May 2012
Foreseen end date

Description

On 11 May 2012, a court decision was handed down announcing the bankruptcy of Kieleckie Kopalnie Surowców Mineralnych (KKSM) in Kielce. All 400 workers will be dismissed.

The main reasons for filing the application was the company's insolvency arising from its involvement in road construction projects, in particular the construction of a section of the A2 motorway. The project was blamed for the financial difficulties of KKSM.

Founded in 1874 KKSM was purchased by Dolnośląskie Surowce Skalne (DSS) in 2011. Today DSS is also at risk of bankruptcy.

Sources

  • 11 May 2012: Wirtualny Nowy Przemysł ()
  • 15 May 2012: Gazeta Wyborcza ()

Citation

Eurofound (2012), Kieleckie Kopalnie Surówców Mineralnych (KKSM), Bankruptcy in Poland, factsheet number 73626, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73626.