Directors of Binh An Seafood Joint Stock Co (Bianfishco) on Thursday announced plans to sell property worth more than VND 150 billion (USD 7.2 million) to pay off debt and boost production.
Bianfishco closed in February with VND 1.5 trillion (USD 73.2 million) in debt to financial institutions and suppliers. It resumed operations in May.
At a meeting with the Finance Ministry’s Debt and Asset Trading Co and commercial banks yesterday the company said it would restructure loans and create working capital to buy fish for processing.
