Its insolvency administrator reported this to the Employment Service.
As BNS stated, the service’s representative Milda Jankauskienė said that employees will be laid off due to the company’s bankruptcy. From August 18, drivers and workers, as well as administrative staff, will lose their jobs, the service reported.
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The bankruptcy case was filed against the company on May 26 and became final on July 23.
As stated in the Lithuanian Court of Appeal ruling, the court rejected the company’s request not to initiate bankruptcy proceedings in July and upheld the Vilnius District Court’s decision.
According to the ruling, on the day the bankruptcy was filed, the company owed creditors 513 thousand euros. Additionally, on July 1, the company’s debt to “Sodra” was 10.75 thousand euros, and to the State Tax Inspectorate – 3.1 thousand euros.
The company, in turn, claimed that it is operational, only experiencing temporary financial difficulties, and its liabilities did not exceed the value of its assets.
As of March 31, the company was operating at a loss – it had incurred losses of 8.6 thousand euros, and last year they amounted to 5.7 thousand euros, the ruling states.
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According to the court, although individual obligations do not always mean insolvency by themselves, their totality, considering forced recovery processes and other financial difficulties, confirms the company’s ongoing inability to properly fulfill its obligations.
Juodeliai company earned a net profit of 7.3 thousand euros in January-September 2024, its revenue decreased by 17% to 113.2 thousand euros (136.1 thousand euros), according to the company’s report submitted to the Register Center.
The company has not submitted reports for the entire 2024 and 2025 financial years. 100% of the company’s shares are owned by a Lithuanian citizen.
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