Popular fruit and berry vendor No Bananas files for bankruptcy
Get Fresh Estonia, which sells berries and fruit under the No Bananas brand, has filed for bankruptcy amid a sharp deterioration in its finances.
Company owner and CEO Andero Keronen said management determined it could no longer meet its obligations and that continuing operations or taking on new liabilities would be irresponsible, business daily Äripäev writes.
"In early July, it became clear that the company's financial situation was significantly worse than could be assessed based on earlier information," Keronen said, adding that the company is now conducting a thorough review with a financial expert to determine the cause of its financial difficulties.
As of mid-August, Get Fresh Estonia also owed more than €209,000 in unpaid VAT.
Earlier this summer, No Bananas announced on its website that it would close its berry stands in Hiiumaa and Latvia and discontinue online orders through its website, Wolt and Bolt Market in July.
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Editor: Mirjam Mäekivi, Aili Vahtla
