Vilnius sewing factory Vlitex, which is facing bankruptcy and experiencing financial difficulties, is laying off all its employees. The company has notified the Employment Service of this.
The service informed BNS that Viltex, founded three years ago, announced that it was laying off 34 employees, mostly tailors and hairdressers.
Three of the company's creditors and shareholders - natural persons, whose financial claims against the company amount to 120,8 thousand euros - decided to initiate bankruptcy proceedings outside the court system in early January - Viltex stated in a letter to creditors in early December that it was unable to fulfill its obligations, according to the Center of Registers.
"Due to increased wages and other costs, the company's activities have become complicated and difficult, the company will not be able to fully settle accounts with employees, pay rent and utility bills, and the lease agreement with the company will be terminated," Viltex explained in the letter.
According to Rekvizitai.lt, Viltex's debt to the State Tax Inspectorate (VMI) amounts to 8,5 thousand euros, and to Sodra - 13,2 thousand.
The Viltex report submitted to the Center of Registers indicates that the company's revenue in 2023 grew 1,5 times to 540,4 thousand euros, net profit fell 2,3 times to 2,6 thousand euros, and payables and liabilities increased 1,9 times to 105,3 thousand euros.
Author Aurimas Ragelis
