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Liquor enterprise Vinreal is bankrupt

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Liquor enterprise Vinreal is bankrupt

The economic court of Vitsebsk region initiated bankruptcy proceedings relating a liqueurs and spirits enterprise situated in Nouka.

The enterprise which produced grape wine, liqueurs, bitters, vodka and so on, is owned by a well-known Polatsk businessman Uladzimir Zakharau. Judging by the advertisements on the web, the owner had been trying to sell the enterprise for two years already, Narodnye Novosti Vitsebska informs.

In the end of 2013 Vinteal joint stock company together with licences for production of liqueurs and spirits was offered for 2,000,000 Euro, and in fact 800,000 were due for payment, and the rest were debt service obligations which had never been overdue before, and which remains a loan commitment of a new owner.

From all appearances, no one was willing to buy, so in summer 2014 the cost was decreased twofold: to 1,000,000 Euro, while 300,000 were due for payment, and the rest were debt service obligations.

However, it seems that the distillery was not able to repay the loans, and on March 12 the court initiated bankruptcy proceedings after a statement of a liquidator.

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