An award-winning Polish porcelain maker declared bankrupt in February after more than 160 years of production has ceased to exist after no buyers bid in a rescue tender.
Former staff had been hopeful a buyer could be found after a court announced a tender with bidding starting at over 45 million złoty (€10.5 million). However, no bids were announced on Monday and the company’s official receiver said he would not try to sell the works again until next year.
Manufaktura Karolina from the south-western town of Jaworzyna Śląska, famous for its Fine Bone China products, was founded in 1870 but went into receivership in February with the loss of 180 jobs, two years after being taken over by HM Investment, owner of Polish kitchenware brand Gerlach.
The head of the works’ trade union said the new ownership was a key factor in Karolina’s collapse.
“In our assessment, the takeover of the plant by the new owner led to a deterioration in the company’s situation and consequently to its bankruptcy,” Ireneusz Besser told the Polish Press Agency in February.
Besser added that at the time of the take-over, Karolina employed a staff of almost 480, but the new owner made heavy staff cuts while the firm’s debts swelled.
“They didn't want to talk to us about the investment plan, how to fix this situation,” he said, adding that Karolina’s debts mushroomed from a few million złoty to tens of millions.
Karolina is not the only porcelain maker in the region to have gone under. A year ago, rival manufacturer ‘Krzysztof’ in the nearby city of Wałbrzych also failed.
Manufaktura Karolina from the south-western town of Jaworzyna Śląska, famous for its Fine Bone China products, was founded in 1870 but went into receivership in February with the loss of 180 jobs, two years after being taken over by HM Investment, owner of Polish kitchenware brand Gerlach.
The head of the works’ trade union said the new ownership was a key factor in Karolina’s collapse.
“In our assessment, the takeover of the plant by the new owner led to a deterioration in the company’s situation and consequently to its bankruptcy,” Ireneusz Besser told the Polish Press Agency in February.
Besser added that at the time of the take-over, Karolina employed a staff of almost 480, but the new owner made heavy staff cuts while the firm’s debts swelled.
“They didn't want to talk to us about the investment plan, how to fix this situation,” he said, adding that Karolina’s debts mushroomed from a few million złoty to tens of millions.
Karolina is not the only porcelain maker in the region to have gone under. A year ago, rival manufacturer ‘Krzysztof’ in the nearby city of Wałbrzych also failed.
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