Zduńska Wola socks and stockings – they were a thing in the times of the Polish People’s Republic. The brand’s products are purchased throughout the country, and the factory employs several thousand people.
This is the past. The factory is fighting to survive, and until recently the situation seemed hopeless. In mid-January, the court declared Wola bankrupt and appointed a bankruptcy trustee.
Chance lol?
In an interview with Business Insider Polska, the trustee says he is struggling to ensure the factory’s survival.
— The court declared the Woola factory bankrupt, but as a trustee, I believe compensation is possible. At this moment we have two potential investors. Lease with right of first refusal is possible here – tells us Krzysztof Piotrowski from the law firm Kancelaria Piotrowski i Wspólnicy, specializing in restructuring.
— In my opinion, the company is worth saving because it has a great tradition dating back to the 1940s, but not only because of it. The Wola factory brand is very well known and the product is of very good quality. These are high quality socks, made from Indian threads. The factory also has really great specialists, for example the dyeing masters. There is also one sock dyeing factory in Poland. When you enter the factory, you can really feel this wonderful tradition. Krzysztof Piotrowski adds that it was worth it for Wola to survive.
A year ago, he says, about 300 people were working in Wola. Now there are about 100 of them – and the plant is operating at about 20 percent of capacity. Possibilities. I would like these 100 people to keep their jobs. “I hope that the future of the plant will be clarified by the end of the year – and the appropriate contracts will be signed in 2024,” the lawyer adds.
Wola factory is fighting to survive
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It is also no secret that another well-known textile company operates nearby – a company associated with the Wola factory.
— In Zduńska Wola, two factories operated next to each other – Wola and Ferax, the latter company producing, among others, articles bearing the GATA logo. Both companies have problems. A deal was reached at Verax, but not implemented. But in Wola, there was no such arrangement. Of course, I hope Ferax will do better and better. This factory is much larger than the Wola factory, and its problems will have a much greater impact on the local labor market – says Krzysztof Piotrowski.
Recipient Krzysztof Piotrowski says Wola is worth fighting for
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The rest of the article is below the video
3 million socks
Ferax representatives admitted in an interview with Business Insider Polska that their company leases Wola assets. But they assert that “decisions regarding the leasing of the Walla plant assets are made by the bankruptcy trustee.”
Krzysztof Piotrowski adds that Wola’s warehouses hold “up to 3 million pairs of socks.” — However, I realize that if this amount of product suddenly reaches the market, it will cause a real shock to the industry.
This slogan was popular during the time of the Polish People’s Republic
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A wave of layoffs in Poland
A wave of mass layoffs has swept Poland in recent months. It also affects the clothing industry. For example, the well-known 4F company fired 130 people.
However, there are a few industries that are resisting the cuts. These include, among others: in the field of information technology, production, trade and media.
See also: A wave of mass layoffs. Many new points on the map
Author: Mateusz Madejski, journalist at Business Insider Polska
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