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Oliver Kruuda's media group is bankrupt
Juhan Tere, BC, Tallinn, 20.05.2009.
Print version
Print versionPostimees Online: Oliver Kruuda's media group Via Concept was declared officially as bankrupt by a court on Wednesday, writes LETA.
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Via Concept (formerly named Kalev Meedia) requested initiation of bankruptcy proceedings due to permanent insolvency and petitioned for the company to be declared bankrupt.
The Managing Director of Via Concept estimated that the main reasons for the insolvency is the decline on the advertising market caused by the overall economic decline in 2008 and the inability to involve additional financial resources from credit institutions.
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