Baltika announced today that the court has approved the company’s reorganisation plan. COBALT advised AS Baltika in the reorganisation proceedings.
According to Baltika’s CEO Flavio Perini, they have now the support of banks, investors, creditors, and the court to quickly implement their turnaround plan and Baltika is and will also remain in the future part of the Estonian economy, and they will gather all their strength to make this company profitable again.
Baltika Group is the largest clothing design company in the Baltics, owning 79 stores in Estonia and neighbouring countries and employing 495 people across the Group. Baltika Group develops and operates clothing brands Monton, Baltman, and Ivo Nikkolo.
The official press release of the company is available HERE.