Financial Services, Latvia, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 17:24

Mego to cut share capital

BC, Riga, 02.05.2017.Print version
Retail trade company Mego will reduce share capital from the current EUR 3 mln to EUR 20,000, according to a statement printed in the government gazette Latvijas Vestnesis today wirtes LETA.

Creditors' claims will be accepted for one month. Mego representatives said they could not comment reduction in the company's share capital at the moment.


According to Firmas.lv data, Mego posted EUR 47.957 mln in turnover and EUR 117,218 in losses in 2015.


As reported, in order to increase efficiency and profitability of the Mego group, its management decided in November 2015 to consolidate the retail network that would be managed by a single company. By the end of 2015, Lenoka, a company owned by Mego, was managing 21 structural units with the name Mego.


In 2016, the company continued to develop a united retail network run by Lenoka, as well as reorganizing and improving its stores.


Mego is one of the largest retailers in Latvia since 1999. It has stores in several Latvian cities and towns - Riga, Aizkraukle, Baldone, Bauska, Broceni, Cesis, Jekabpils, Jurmala, Sauriesi, Liepaja, Talsi, Tukums, Valka and Ventspils.


Mego was founded in 1999 with a share capital of EUR 3,000,000. Mego is owned by Mihails Ulmans with 62% of shares, Viktors Karbanovs - 18%, and Aleksandrs Morozs and Grigorijs Vovks with 10% of shares each.






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