Home » Business » The wholesaler of industrial goods ‘Baltā bura’ has been declared insolvent

The wholesaler of industrial goods ‘Baltā bura’ has been declared insolvent

The Riga District Court has declared industrial goods wholesaler SIA “White Sail” declared insolvent, according to the record Insolvencies in the register.

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The company has been declared insolvent because it was unable to meet the obligations set out in the action plan of the legal protection process.

The insolvency process for the company was announced on Monday, November 11. in July.

Oskars Jonāns has been appointed as the administrator of the insolvency process.

The application deadline for creditors is August 12, 2022.

It has already been reported that on June 29, 2021, the Riga District Court initiated the legal protection process case of “White Sails” and on October 27 approved the legal protection process measure, setting a two-year deadline for its implementation. The legal protection process was accordingly terminated on July 11 with the announcement of the insolvency process.

In 2020, “Balta bura” worked with a turnover of 34.292 million euros, which is 23.8% less than a year earlier, but the company’s losses increased by 45.8% and amounted to 3.549 million euros. The financial indicators for 2021 have not yet been made public.

“Baltā bura” was registered in 1996, and the company’s share capital is 996,009 euros, according to “Firmas.lv” information. The largest owner of the company is Rafail Daifts, who owns 84.92% of the capital shares of “Baltās buras”. Another 9.37% belongs to Arnold Konevnikov, and 5.71% to Natalya Malaya.

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