Latvia, Legislation, Markets and Companies, Retail

The insolvency claim has been lodged by Brivibas Centrs property rent and management company.

Brivibas Centrs board member Aleksandrs Tralmaks told LETA that Kesko Senukai Latvia owed Brivibas Centrs EUR 56,000 in unpaid rent for 2017.

Riga City Pardaugava District Court plans to hear the insolvency case against Kesko Senukai Latvia on December 20, 2018.

Insolvency administrator Lasma Veipe is a candidate to handle the company’s insolvency process.

As reported, Kesko Senukai Latvia posted EUR 55.158 mln in 2017 sales, up 13.8% from a year before, while the company’s loss increased 29.7% to EUR 4.61 mln, according to Firmas.lv business database.

Kesko retail group comprises 20 retail chains, such as K-rauta, Rautia, Byggmakker, Konekesko, Senukai, Asko, Sotka, Citymarket, Anttila, Intersport, in eight countries - Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Russia and Belarus.