Bankruptcy proceedings in relation to AVA Company have been terminated

Based on the motion by the founder and the resolution of the meeting of creditors of AVA Company woodworking plant, the Commercial Court of the Omsk Region terminated the receivership bankruptcy procedure and transferred the company to the financial recovery stage. It can now resume its activity in full.

In June 2020, Profit Group became the new owner of AVA Company via its subsidiary Profit Fellowship LLC. The new owner invested over 50 million rubles in plant restoration, paid about 100 million rubles of overdue taxes and also more than 400 million rubles to lenders. 100 million rubles was also spent to repay the debts to employees.