Friday saw more bad news for Luxembourg's economy. As radio station 100,7 reported, Steinfort-based company Mangen Constructions has filed for bankruptcy. The company, which employs roughly 225 people, is said to have had financial problems for the last few months. As was the case with Socimmo, the financial problems of Mangen Constructions can be traced back to the fact that the company expanded too rapidly during the last few years, a situation made worse as, in some cases, clients were late in settling outstanding bills.

Mangen Constructions hasn't managed to find an investor willing to take over the company, says radio 100,7, paving the way for bankruptcy. In the mean time, work on most of the company's work sites has been halted.

Neither trade unions OGBL and LCGB nor government officials wanted to comment on the subject.