Court declares Saaremaa Lihatööstus bankrupt

The second-tier Tartu County Court on Monday declared meat producer OÜ Saaremaa Lihatööstus bankrupt, regional daily Saarte Hääl reported.
Anne Tammer has been appointed bankruptcy trustee, with the first general meeting of creditors to take place on February 12 at the Tartu courthouse.
Saaremaa Lihatööstus had been undergoing restructuring, but filed an application to terminate that process, citing persistent insolvency issues, and at the end of November requested the initiation of bankruptcy proceedings.
The company is owned by Vjatšeslav Leedo and had laid off about half of its staff in summer 2023, the same year that it started the restructuring process.
The company at the time attributed its difficulties to the combined effects of rising pork prices over recent years, the Covid pandemic and soaring energy prices.
In summer 2023, the company halved its workforce from 137 to 69, it was reported at the time.
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Editor: Andrew Whyte, Mirjam Mäekivi