Lahti-based bakery Sinuhe goes into administration

Sinuhe’s creditors have not objected to the restructuring procedure. The liquidator must make a proposal for a payment plan by the end of August.

Sinuhe, a traditional bakery in Lahti, has gone into receivership.

Päijät-Häme District Court has issued a decision to open restructuring proceedings against the company. According to the court, the conditions for the opening of the proceedings are met.

Sinuhe’s major creditors Finnvera, Varma Mutual Insurance Company and the Tax Administration do not oppose the restructuring procedure.

The creditors shall inform the liquidator by June 16, and the liquidator shall make a proposal for the payment program by August 29.

In April, in an application for a reorganization submitted to the District Court, Sinuhe announced the amount of debts of approximately EUR 4.4 million. The company announced that it had drove into payment difficulties due to increased costs.

Sinuhe’s payroll has about 70 people. The company has a bakery in Lahti and six cafes in Lahti and Kouvola.