The insolvency of SIA “Cherry Media” has been filed in the Latgale Suburb Court of the City of Riga, according to an entry on the website of the Insolvency Administration.
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An insolvency case was filed on July 20. As informed in court, the date of the hearing has not been set yet.
It is also reported that in Estonia and Latvia working collective online shopping environments Cherry Meedia has ceased operations and points outthat the provision of already concluded services to consumers is guaranteed by contracts, so most customers will not suffer losses.
The Consumer Rights Protection Center (CRPC) also previously called on service providers to provide consumers with services paid for through the “Cherry” portal.
CRPC representative Sanita Gertmane pointed out that the institution is currently finding out the number of injured clients of the bankrupt SIA “Cherry Media”, the amount of unused coupons, and the service providers involved. CRPC has met with company representatives and requested information from Cherry Media.
According to Firmas.lv, Cherry Media had a turnover of 1,914,330 euros in 2014, but was operating with a loss of 204,661 euros. No information for last year.
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