Rēzekne power tool maker «Rebir» to be liquidated after nearly 60 years
Shareholders have decided to liquidate «Rebir», a Rēzekne-based maker of power tools and equipment, after its products were added to a sanctions list, leaving the company with no clear future prospects. The decision was made at a repeated extraordinary shareholders' meeting.
«Rebir», a Rēzekne company that has manufactured power tools and equipment for nearly six decades, is being liquidated following a decision by its shareholders at a repeated extraordinary meeting.
The company had continued operating without losses in recent times, but shareholders concluded it no longer had clear prospects for future development.
Sanctions were the deciding factor
Over its long history, «Rebir» weathered several difficult, crisis-marked periods and managed to survive them. However, the decisive reason behind its closure was the inclusion of its products on a list of goods subject to sanctions, which significantly restricted the company's ability to continue operating.
The company had operated in Rēzekne for nearly 60 years, making it one of the region's longest-standing industrial enterprises.
