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Homel Fat Factory Declared Bankrupt

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Homel Fat Factory Declared Bankrupt
PHOTO: TUT.BY

Four years ago, they wanted to sell its shares to people.

The Economic Court of Homel Region has opened bankruptcy proceedings against the OJSC Homel Fat Plant and is preparing the bankruptcy case for a trial. This follows from information published in the single register of information about bankruptcy, tut.by writes.

As follows from the court materials, the case was initiated the company filed a statement on economic insolvency. The Homel Regional Executive Committee, which is the curator of the company, said that it was not advisable to carry out further pre-trial rehabilitation of the company, which employs about 600 people.

The payables of the Homel Fat Plant exceed 48.4 million rubles. 32.5 million rubles are short-term liabilities. BelVEB and the Moscow-Minsk bank agreed that they should start a bankruptcy case.

The cost of plant property was estimated at 56.7 million rubles. 39.6 million of them are fixed assets.

At the end of 2017, the net loss of the Homel state-owned company amounted to about 2.8 million rubles.

However, the authorities are not going to send the combine to the hammer. They intend to conduct a financial recovery of the enterprise via the bankruptcy procedure. Due to the rehabilitation mechanism, the debt load will not put pressure on the Homel Fat Plant.

The trial in this case will be held on March 26, 2019.

Curiously, 4 years ago, the Homel Fat Plant launched a so-called “people's IPO,” that is, announced a public sale of more than 4 million shares. The shares of the additional issue were sold to individuals and legal entities, residents and non-residents of Belarus, without any restrictions. However, it did not bring any success. As a result, less than 1% of the plant shares were sold.

The Homel Fat Plant is a large enterprise in Homel region. It produces margarine, mayonnaise, vegetable oil, soap, hydrogenated fat.

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