Latvian government finally gets tough on debt-ridden KVV Liepajas Metalurgs

  • 2016-03-23
  • BNS/TBT Staff
RIGA - The financially troubled KVV Liepajas Metalurgs, a metal works company in the seaport town of Liepaja, is not quite a write off yet, said Uldis Sesks, the town’s mayor, in an interview with commercial LNT television on Tuesday, March 22. Later the same day, the Latvian government announced its Privatisation Agency would be stepping in to restructure the company’s ever-mounting debts. The company’s new Ukrainian owners, KVV Group, have consistently struggled to pay their electricity bills and have laid off staff since the relaunch of the m...
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