Bauhof Closes Lithuanian Stores as Subsidiary Teeters on Verge of Bankruptcy ({{commentsTotal}})


Bauhof, Estonia's largest do-it-yourself construction chain, is shutting down all five of its locations in Lithuania.

The Lithuanian subsidiary of Bauhof (not to be confused with Bauhaus) has been suffering major financial losses and the company is in the process of restructuring, reported

"We have carried losses totaling 19 million euros in Lithuania, so we must find a solution through which we won't lose any more money," said Bauhof Group CEO Mart Vau.

"The restructuring process is currently under way: we are tidying up our debts and amending our business model. Whether we plan to reopen a store or two as a result of this process will become clear over the next month. Negotiations are not easy in such a situation and will take some time," he said.

It is also not yet clear whether the Lithuanian subsidiary, UAB Bauhof LT, will manage to avoid bankruptcy.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Independence Day: Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.