
The management board of Tower Investments announced that on July 5, 2024, it received information about the submission by the creditor of the subsidiary – Tower Mehoffera spółka z ograniczoną odpowiedzialnością – YIT Development, to the District Court for the Capital City of Warsaw of an application to declare Tower Mehoffera bankrupt.
Tower Mehoffer's bankruptcy petition
The creditor indicated the amount due to him in the amount of PLN 1,845,000 with interest. The court obliged Tower Mehoffer's company to take a position on this matter within 2 weeks.
– Tower Investments does not agree with the application, sees no grounds for bankruptcy of Tower Mehoffera due to the fact that the company's assets significantly exceed the value of the claim, and at the same time indicates that the application has no impact on the activities of Tower Investments – stated in the press release.
Let us recall that in June, Tower Investments concluded an agreement regarding the repayment of the loan. It assumes the sale to the lender of part of the real estate that is part of the company's assets.
Tower Investments serves retail chains
Tower Investments specializes in comprehensive development services for the largest retail and service chains: from the selection of an appropriate location, through the purchase of real estate and obtaining the necessary administrative permits, to the implementation of a turnkey facility. Moreover, it is the owner of the Shopin brand. In 2017, the company moved from NewConnect to the main market of the WSE. Now he is looking for an idea for the future and how to survive difficult times.
Tower Investments has published its report for the fiscal year 2023, which runs from January 1, 2023 to December 31, 2023. The company recorded PLN 15.48 million of consolidated net loss attributable to shareholders of the parent company compared to PLN 10.24 million loss a year earlier.
The operating loss amounted to PLN 5.79 million compared to PLN 3.75 million profit a year earlier.