Vitrablok Duchcov, a producer of glass bricks, was bought in bankruptcy by its largest secured creditor, the investment group Progresus.

The company, based in Duchcov, North Bohemia, specialises in the production and sale of various types of glass bricks, so-called luxfer, and is one of the world's largest producers. In the last five years, Vitrablock has generated annual sales of between CZK 550 million and CZK 750 million, with most of its production exported. The company employs approximately 200 people and has offices in Italy and a Seves Glass Block dealership in the USA.

Vitrablock ran into financial difficulties due to rising natural gas prices, which led to a temporary shutdown last autumn. The company was unable to resolve the debts incurred and declared insolvency in October. In January, Vitrablock's creditors, led by the Progresus group, agreed to file for bankruptcy.

The Progresus Group, which is primarily engaged in development activities and investments in industrial parks, has made a number of strategic acquisitions, including the purchase of RD Rýmařov, a manufacturer of wooden buildings, several years ago.