Crime, Latvia, Legislation, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 03:35

Turnover of Lage Ko restaurant chain operator down 2.3 times in 2017

BC, Riga, 03.10.2018.Print version
Company Lage Ko, which runs the network of Gan Bei restaurants, last year generated 6.742 mln euros in turnover, down 2.3 times from a year ago, while the company’s loss reached 294,345 euros in contrast to a profit a year ago, informs LETA.

The company’s management reported that last year Lage Ko optimized its operations, liquidating 17 out of its 20 structural units and cut the number of employees. At the same time, the company has started providing accountancy, marketing and legal consultations.


In the future, the company plans to develop further provision of accountancy, marketing and legal services and discontinue catering services, handing over the remaining structural units to related companies.


Lage Ko was founded in 1993 and its share capital is 506,625 euros. The company belongs in equal parts to three individuals.


As reported, a criminal case was opened at the end of 2014, in which Lage Ko stood accused of tax evasion. Nevertheless, the company was not shut down and was allowed to operate its restaurant business.


In 2016, its board member Olegs Arups and several employees got suspended jail terms and fines for manipulating cash registers and accountancy documents.


In 2016 Lage Ko generated 15.66 mln euros in turnover, down 3.1% from 2015, while the company’s profit was 583,433 euros in contrast to loss in the previous year.

 






Search site