The largest St. Petersburg fish processing plant ROK-1 stopped production and cut more than 90% of its staff. As part of the bankruptcy procedure, all the company’s accounts were arrested, TASS reports.
As a result, the company cannot conduct business and pay salaries to employees.
On February 15, the Arbitration Court considered the application for declaring JSC ROK-1 bankrupt. A monitoring procedure was introduced, and an interim manager was approved. The company plans to challenge the appointed candidacy of the interim manager. The company believes that the appointed manager does not have sufficient competencies. “Moreover, there is a relationship with our main creditor PJSC Sberbank, which means it is possible that the interests of other creditors may be violated. In this connection, we plan to appeal against the appointed candidate,” the press service of the company noted.
The company’s management is trying to negotiate with banks on debt restructuring in order to resume operations.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
