Company Files for Bankruptcy
Posted on Jun 25, 2010 3:35pm PDT
After being cut off by its parent company, Noveko, Magnum Pharma has filed for bankruptcy. The marketing subsidiary has voluntarily filed for bankruptcy due to its inability to carry out its business plan. Magnum Pharma has generated considerable losses and debt during this time. Noveko originally purchased the company to help it bring its hand sanitizers to the retail market, but this didn't happen.
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