At the end of July, the debt of the Manufaktura Piwa Wódki i Wina group with accrued interest amounted to PLN 177 million, part of which was received from a credit company with an interest rate of 240%. according to the Virtual Media website.
In the first half of August, the alcohol holding filed an application with the court to initiate loan proceedings. This is due to the fact that one of the company’s investors filed an application for recovery proceedings and bankruptcy. Janusz Palikot, president and major shareholder of MPWiW, wrote in a communiqué that a decision had been made to file a lawsuit to initiate legal proceedings to approve the agreement with creditors Manufaktura Piwa Wódki i Wina and Tenczyńska Dystrybucja.
As part of the restructuring procedure, the assets of the MPWiW group will be protected by the court from attempts to separate them into separate proceedings initiated by creditors.
The holding does not use its potential
Marek Maslanka, who represents the company’s investors, said that the holding has only 20 percent. used its facilities for the production of beer, and in the case of vodka did not launch its own production. He also said that the brewery has a very high potential for the production of high-quality craft beer and distillates and an investment of about PLN 1 million is needed. The start of production is scheduled for the fourth quarter of this year.
For the time being, the holding uses the brewery in Nekhanov, producing production there on its own equipment. Maslanka says the company has “huge business opportunities.”
At present, the holding’s average sales income is about PLN 5 million. Since 2020, the company has launched 46 products in the beer category (counting individual releases separately), 15 vodkas, seven spirits, four wines and two whiskeys.
Maslanka also announced this at the end of July this year. the total external debt of the holding company reached PLN 166 million, of which PLN 142.2 million in loans, PLN 21.9 million in bonds and PLN 1.7 million in promissory notes. Interest accrued on this debt amounted to PLN 11 million. Manufaktura Piwa Wódki i Wina alone accounted for PLN 80.49 million in loans (of which PLN 4.34 million were bonds) plus PLN 22.09 million in bonds, while Tenczynek Dystrybucja accounted for PLN 59.02 million. The loans received by the Manufactory of Beer, Water and Wine amounted to PLN 19 million from large investors, PLN 49.9 million through a foundation and PLN 6 million through another company.
Source: Wprost
I am George Brown, author at Daily News Hack. I mostly cover economy news and I have been doing this for quite some time now. I have a lot of experience in this field and I’m always looking for new opportunities to learn more.
