One of the largest pork producers in Belarus — the "Danprad" company — found itself in a difficult financial situation and voluntarily filed for bankruptcy with the court. Its case is currently being heard in the Economic Court of the Minsk region, writes Office Life.
According to official documents, the total amount of the enterprise's debts reaches almost 117 million rubles, which significantly exceeds its ability to settle with creditors.
This enterprise was once considered one of the most ambitious agricultural projects in the country. Back in 2015, it reached its design capacity: a large pig-breeding complex, designed for approximately 110 thousand pigs per year, was built in the Volozhin district. Production volumes were supposed to be around 11 thousand tons of meat in live weight.
The project was very expensive — more than 400 billion rubles at the time — and was implemented with the participation of foreign investors, including from Cyprus and Denmark. The well-known Belarusian company "Triple", owned by the now disgraced, but then favored by Lukashenka, businessman Yuri Chizh, also participated in the financing. "Danprad" accumulated a significant debt to it — more than 40 million rubles.
Initially, it was planned that almost all of the enterprise's products — up to 97 percent — would be supplied for export. However, over time, economic conditions changed, and "Danprad" lost its ability to operate stably and generate profit. Today, its assets are estimated at only approximately 14.5 million rubles, which is several times less than the amount of debt. At the same time, the staff has been reduced to a minimum — only eight people.
The situation is complicated by the fact that this season the enterprise has not actually engaged in agricultural activities, and therefore has no sources of income. In this regard, the court concluded that the company would not be able to restore solvency and repay its debts. Bankruptcy proceedings have already been initiated against it — this is a procedure that involves the sale of property to settle with creditors.
A final decision regarding the company's fate is to be made on August 27. However, there is already a high probability that "Danprad" will be declared bankrupt and liquidated, which means a complete cessation of its operations.
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