Kross-owned Kõue manor goes into financial reorganization

Kõue mõis, also known in English as Kau Manor.
Kõue mõis, also known in English as Kau Manor. Source: (Kõue Mõis OÜ press kit)

A manor house owned by a Reform Party MP and which functions as a hotel and events center continues to operate at a loss and the company administering it is going into financial restructuring, ERR reports.

Kõue mõis, in the Harju County village of the same name, is owned by Eerik-Niiles Kross and his wife Mary Kross.

As of Thursday, the company through which the Krosses own the manor has incurred a tax debt of €224,000, ERR reports.

The manor continued to operate as an events venue through last year, mainly catering to a local clientele, while the company's annual report states that it this is continuing in 2023 as well.

In June, a court initiated a restructuring procedure in respect of the Kõue estate, whose accumulated losses come to over €3 million.

The first-tier Harju County Court called for creditors to familiarize themselves with the claims presented in the list; the restructuring plan has been completed and has been made public to August 21, after which it will be submitted to the court for approval.

Kõue manor's financial reports have been filed on an irregular basis in recent years, ERR reports. In 2020, reports for the preceding three years were filed in one go, while in 2021 the auditor gave up on evaluating the report, due to a lack of clear information.

In 2022, Kõue manor posted a loss of €73,556 from a revenue of €108,000the annual report states.

As of the end of last year, the company employed on average three people, while payroll costs came to just under €40,000 last year.

Kõue manor's assets were reported at €2.369 million; liabilities at €2.324 million, including loan obligations of €1.56 million. 


Follow ERR News on Facebook and Twitter and never miss an update!

Editor: Marko Tooming, Andrew Whyte

Hea lugeja, näeme et kasutate vanemat brauseri versiooni või vähelevinud brauserit.

Parema ja terviklikuma kasutajakogemuse tagamiseks soovitame alla laadida uusim versioon mõnest meie toetatud brauserist: