Frozen foods liquidated

Bankrupt frozen food company Arvit Rt said it is due to wind up production altogether by the end of November. Bowed under a Ft 900 million debt burden, the Győr-based company decided to close up shop in early fall and put up its assets for sale on Sept. 30, part of which has already been sold. Arvit, which posted revenues of Ft 2.5 billion but eventually ran up a net loss of Ft 158 million last year, blamed its woes on drought, high raw material costs and competition from Poland and Serbia. (Vg 12) S.F.