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
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.