According to the Ministry of Economy, more than 140 state-owned enterprises are on the verge of bankruptcy
143 state-owned organizations are in the process of bankruptcy in Belarus, the Ministry of Economy reports. Their number includes: Strommashina, Sukno, Motovelo, garment factory Vyasnyanka, Molodechno Metal Structures Plant, Gomeloblstroy, Brest Carpets. Officials are still trying to save some of them, while others are being liquidated.
Which factories are being liquidated?
The factories that are in the process of liquidation: Borisov Cannery, Miorsky Flax Factory, Baranovichidrev, Minsk Building Materials Plant, Motovelo, Brest Carpets, PMK-4 in Bereza, Mednovskaya Poultry Farm in the Brest region, Kobrin poultry farm, Drogichinsky feed mill, Lyakhovichy rayagroservice, Braslavskoye PMS, Sukno.
For example, in February, the economic court of Minsk declared the legend of the light industry, the state-owned Sukno, to be economically insolvent and ordered a reorganization of the enterprise for 18 months. The bankruptcy petition was filed by the main shareholders, which was justified by the “insolvency of the enterprise, which is becoming stable”. The reorganization plan included increasing production volumes, optimizing the organizational structure, collecting accounts receivable, selling illiquid or ineffectively used assets, and increasing the competitiveness of products.
The possibility of moving Sukno to the area of the modernized JSC Kamvol has been discussed for several years. In July, it was reported that the move would take place before the end of this year.
According to the Ministry of Economy, the number of enterprises subject to liquidation also includes: Gomeloblstroy, Gomel Plant of Building Structures, Gomel Fish Complex, Slonimskaya Poultry Factory, Borisov Garment Factory, Borisov Enterprise of Musical Instruments, Borisov Crystal Plant named after Dzerzhinsky, Molodechno Metalware Plant, Slutsk Brewery, Mogilev Sewing Company Vyasnyanka, Bobruisk Brewery, Osipovichi Carriage Works.