Varvaressos S.A. European Spinning Mills Auditor Raises 'Going Concern' Doubt

Varvaressos S.A. European Spinning Mills is a Greece-based company that is engaged in the textile industry. Its range of activities includes the production and trade of cotton and special yarns. The Company's product portfolio includes cotton yarns, cellulose fibers, blended yarns, multi-ply yarns and yarns on dyeing tubes, as well as packing products, such as carton boxes and cardboard layers. It operates two plants with 47,000 spindles and ring and compact spindles, and has an annual production capacity of 6,000 tons of natural fiber yarns. The Company sells its products in 20 countries.