Hours after the Israeli news site Globes reported that Highcon Systems is winding down its businesses, reports are coming in that Highcon has filed for bankruptcy protection and has cited concerns over the tariff war and the global economic slowdown as factors in the decision to file for bankruptcy protection under Chapter 10 Insolvency and economic Rehabilitation Law.
According to Shiri Habib-Valdhorn’s article “Packaging Tech Co. Highcon Winding Down” on Globes, the English version of the Israeli business-focused daily, “Highcon has wiped off 99.9% of its value for investors.”
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