Bulgaria's french fry manufacturer Royal Potatoes files for insolvency

Bulgarian frozen fries maker Royal Potatoes has filed for insolvency, according to trade registry data.The bankruptcy procedure was opened by the Sofia District Court on January 6 2011.

In early February, Royal Potatoes' creditors proposed to name Alexander Kostadinov a receiver for the company, with the appointment entering into force on February 18.

The creditors are now allowed to file claims against the company over their debts and to prepare a list of its lenders, which should be approved by the court.

Royal Potatoes has been insolvent since January 2009, according to the court in Sofia.