Bankruptcy Proceedings Initiated For AB Šatrija

2025-09-05 04:31:19

(MENAFN- GlobeNewsWire - Nasdaq) On 4 September 2025, the Šiauliai Regional Court ruled to initiate bankruptcy proceedings for AB Šatrija, a sewing services company owned by the Utenos Trikotažas Group. The ruling may be appealed within 7 days of delivery. Once it becomes final, AB Šatrija will acquire the status of a bankrupt legal entity.

Insolvency administrator Juozas Valaitis has been appointed (Insolvency Administrators List No. N-FA0207, address: Jonavos g. 16A, Kaunas, tel. +370 37 308945, email: ... ).

Until the ruling enters into force, the company's fixed assets, real estate, and property rights classified as current assets remain under seizure. This part of the ruling on asset seizure is enforceable immediately.

This process will have no impact on the operations of Utenos Trikotažas or the implementation of its restructuring plan. The activities of the two companies are not interconnected.

Further information will be provided once the ruling enters into force.

Additional information is available from Tadas Baužys, Finance manager, tel. No. +370-672-44712.

Nomeda Kaučikienė, CEO of AB Utenos trikotažas

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