Rafako, 1 of the largest employers in the Racibor region in Silesia, was faced with dramatic changes. The decision to declare bankruptcy by the Gliwice territory Court last December sealed the destiny of the company, which for decades was a leader in the energy sector. From the position of the labour marketplace and the economical situation of the region, the collapse of Rafako has serious consequences.
Decision of the Court of First Instance and Designation of the Syndic
On 19 December, the territory Court of Gliwice, XII economical Division, issued a resolution declaring the bankruptcy of Rafako. The judicial announcement states: "The court appointed a syndicate in the individual of Mr Wojciech Zymek (Zymek), holding the licence of restructuring advisor No 104". This judgement passed on 21 January 2025, which opened the way for the liquidation of the company's assets and group redundancies.
Effects of the decision: Nearly 700 unemployed
On the date of the bankruptcy announcement, Rafako began the process of preparing group redundancies. The company announced that 699 people would lose their jobs in February 2025. For the Racibor region, where Rafako was 1 of the biggest employers, this is simply a immense blow. This will straight affect not only redundant workers, but besides local communities and companies cooperating with Rafako.
Why did Rafako declare bankruptcy?
In September 2024, Rafako filed for bankruptcy, citing a permanent failure of ability to settle due liabilities. The main reasons for this were:
- No settlement with JSW KOKS S.A. On September 10, 2024, Rafako reported that JSW KOKS S.A. broke up mediation before the lawyer General. The mediation was to bring a settlement on the implementation of the heat and power plant in Radlin. The break-up of mediation resulted in a bail-out of PLN 20 million by JSW KOKS and a procedure for utilizing the bank warrant of PLN 35 million. As stressed by the Rafako board, this was 1 of the key events that made the financial situation of the company worse.
- Problems with the Restructuring of Commitments Failure to negociate with the main creditors prevented effective restructuring of the commitments. The Management Board of Rafako stressed that the non-approval of swapping debts into shares of the company prevented the acquisition of fresh backing for future projects.
Rafako – leader of the energy industry
Rafako was a maker of boilers and environmental protection equipment for the energy sector. The company offered comprehensive implementation of fossil fuel-fired power blocks, and its consolidated revenues in 2023 amounted to PLN 335 million. For decades Rafako enjoyed the opinion of a solid supplier of solutions for Polish energy.
Regional and labour marketplace implications
The fall of Rafako means not only the failure of jobs, but besides the economical weakness of the region. For many local companies cooperating with Rafako, as well as for entities providing components and services, it is besides the beginning of hard times.
Summary
The bankruptcy of Rafako is another example of how financial problems and disagreement with key business partners can lead to the collapse of a large company. The decision of the court, although lawful, affects hundreds of employees and the full local community. Rafako's future can be a informing to another companies facing financial and organisational problems.
The further destiny of Rafako employees, as well as the assets of the company, remains in the hands of the syndicate, whose task will be to maximize the liquidation value for creditors. It is worth following developments to realize the full impact of this event on the Polish energy marketplace and the regional economy.
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Rafako's fall has left 700 people unemployed
