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A seller of building materials with a huge debt transferred his business to a new company

Продавец стройматериалов с огромным долгом перевел бизнес на новую фирму

The Janere company, which sells fasteners and has been in the process of reorganization for the fifth year, notified its partners that they must now pay bills to the new company, Delovye Vedomosti writes. Construction Materials. The photo is illustrative. Construction Materials. The photo is illustrative. Photo: Eero Vabamägi

The Janere company, which sells fasteners and has been in the process of reorganization for the fifth year, notified its partners that they must now pay bills to the new company, writes Delovye Vedomosti .

"It doesn't look good," said Janere turnaround consultant Andres Juhkam, who knew nothing about it.

At the end of May, Janere sent a letter to its partners informing them that changes had been made to the company's structure and that all sales-related operations would be transferred to the new company Janere Trade OÜ.

“Previously placed orders that are still in progress will be completed by Janere,” said the firm, which currently has a tax debt of more than half a million euros.

Janere owner Janek Reitalu told Äripäev that he is not doing anything illegal and is not trying to get rid of debts, but simply divided the company into two parts: “The old company retained the central warehouse, and the new company has everything related to sales.”

Read more on dv.ee.

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