Business
Beleaguered Styl mulls delisting
Struggling Styl Fashion Company Rt is willing to take delisting from the BSE into consideration since its registered capital has dropped by two thirds. Styl is battling severe financial difficulties, yet it is undergoing reorganization, which is to be completed by April, according to company CEO Victor M. Kolozsvary. The fashion firm is to transform its profile into producing high quality clothing. Last month, it sold 60% of its real estate, thus reducing its debts by 85%. Styl employs 1042 workers and 500 of them would need to be laid off. (Vg 10) E.C.
