Plus punkts declared bankrupt

  • 2013-10-25
  • From wire reports, RIGA

Photo by Mārtiņš Vanags/ Source: Twitter

The Ogre District Court has declared the Plus punkts chain of kiosks and corner shops insolvent, according to an entry in the Insolvency Register, reports LETA. The insolvency procedure was launched this month. Creditors’ claims against the company must be submitted within a month’s time, starting from Oct. 25.

Maija Stolarova has been appointed Plus punkts insolvency administrator.

The stores returned to the previous owner, Ibofa Establishment, on Aug. 28. Tatjana Takcidi became Plus punkts’ only board member, replacing the company’s former board chairwoman Svetlana Kiselova and board member Raitis Kveps.

In September, press deliveries to Plus punkts stores were halted due to the company’s failure to fulfill agreements with its suppliers. At the moment, Plus punkts owes around 200,000 lats (285,700 euros) to the press wholesale and delivery companies Preses serviss and Rigas karte.

Plus punkts profit was 358,828 lats in 2011 and 3,035 lats in 2010. The company’s turnover dropped from 23.9 million lats in 2010 to 22.8 million lats in 2011, according to information.

Plus punkts was established in 1996. The company’s share capital is 1,572,594 lats.