Insolvency proceedings terminated for former manager of "Elkor" stores
The Riga City Court has terminated the insolvency proceedings of SIA "ETG", as the company fulfilled the creditor claims repayment plan. The company was declared insolvent in December 2023.
On June 17, 2026, the Riga City Court decided to terminate the insolvency proceedings of SIA "ETG", according to the Insolvency Register. The termination was granted because the company fully executed the plan to satisfy creditor claims.
SIA "ETG" was declared insolvent on December 15, 2023, with Sergejs Maleckis serving as the administrator. The company previously managed the "Elkor" retail chain.
Data from "Firmas.lv" shows that as of June 8 of this year, "ETG" had a registered debt of €2.254 million to the State Revenue Service (VID). In 2022, the company reported a turnover of €26.919 million and a loss of €3.997 million.
The company was founded in 1994 with a share capital of €2,276,042. Its owners include Andrejs Vlasov (44.55%), SIA "Plus īpašums" (40.6%), and SIA "Kimko LV" (14.85%). "Plus īpašums" is owned by several individuals, including Andrejs Sičovs, Andrejs Horhorins, Vlasovs, Gunārs Vizulis, and Aleksejs Trofimovs.
