Gazlouleh Manufacturing Company’s ticker has been halted due to the long list of its creditors. The exact amount of this company’s debt has not been clearly defined and it will be announced after its loss and profit amounts’ announcement. This company has experienced its golden age during 2001- 2005 when due to good diplomatic relations with foreign countries, it requested for a loan from the International Monetary Fund and was about to start projects on the improvement of water and waste water pipes. However, its wishes and dreams were blown away after the 2005 election. Furthermore, factors such as non-operating returns, receiving loans, reliance on tender sales, governmental organizations’ failure in debt payoff, previous weak management, etc., made these conditions worse. The only solution to save this company has been stated to be bankruptcy announcement. As a result, this company has submitted its bankruptcy petition to Shahid Beheshti Judicial Complex of Tehran and its ticker will not reopen until the court verdict has been passed.
