COBALT advises AS BALTIKA in reorganization proceedings

COBALT advises the leading fashion brand house in the Baltics AS Baltika in reorganisation proceedings.

Baltika is in the opinion that in the current situation reorganisation of the company is the best way to protect the rights and interests of the shareholders, the employees, the creditors and the partners of Baltika. The company believes that as a result of the reorganisation proceedings and the measures taken in these proceedings, Baltika will be able to overcome its economic difficulties and restore its liquidity, improve profitability and ensure its sustainable management. This is also supported by the restructuring and efforts to improve business model which have already been made by Baltika Group, such as cessation of production operations in Estonia and thereby reducing production costs, and various other measures to reduce fixed costs.

The reorganization has no effect on the day-to-day operations of the company, so the company will continue to operate as usual, naturally taking into account the COVID-19 measures.

From COBALT the client is advised by Senior Associate Annika Jaanson.

The official press release of the company is available HERE.

Photo source: www.baltikagroup.com