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Buyer for Kreenholm Emerges
Although a working textile mill in Narva is still far off, a potential buyer has emerged for the Kreenholm textile plant's estate.
Since the plant went bankrupt in November, with 500 lost jobs, attempts have been made to auction off the equipment, but to no avail.
Now a little-known company called New Krenholm Holding OÜ has stepped in, according to rus.err.ee.
At the previous two auctions, the starting price was 4.5 million euros.
Founded in August, New Krenholm Holding OÜ is owned by Vadim Shabarov and Ivo Saluoks, who were members of the management board of a telecoms company that went bankrupt last year, Norby Telecom.
Kristopher Rikken