‘Fighting To Last Ruble’

One of the famous furniture manufacturers is going bankrupt in Minsk.

A manufacturer of office and retail furniture, Mebelink, is going bankrupt in Minsk. The company has accumulated debts of Br2 million. This follows from the data of the Unified State Register of information on bankruptcy, writes ‘Zerkalo’.

On 25 February, the Economic Court of Minsk considered the bankruptcy case of Mebelink company, which operated under the brand name of ProTrade and was part of the ‘Minsk’ free economic zone. The application for economic insolvency was filed by the owners of the firm. They specified that the firm was not working, while all the property worth Br35 thousand was just being stored in a warehouse.

In December last year, the company was joined by ‘EuroStyleMebel,’ which was engaged in furniture repair.

The total amount of debts exceeds 2 million rubles. Of these, more than half a million are arrears of taxes and levies.

The court initiated bankruptcy proceedings and introduced a protective period. This is a procedure during which they check whether the company really cannot pay its debts. During this period, the bankruptcy petition is examined, the financial condition of the debtor is checked and it is decided whether there are legal grounds to start the bankruptcy process.

‘Mebelink was one of the leaders of the Belarusian market in its field. It supplied furniture to the offices of many well-known companies, including Wargaming, Milavitsa, Beltranshaz, Atlant, Santa Bremar, banks and government departments.

‘It was not possible to save Pro-Trade. Although I was fighting to the last ruble,' wrote Aleh Nadzin, co-owner and director of the firm, on his Facebook page back in December last year.

The businessman also explained that ‘the company failed to cope with the foreign currency loan, and the constant outflow of significant funds led to financial and personnel exhaustion’.

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