Recovery of a bankrupt enterprise. A successful example was given in the Gomel region

October 28, Gomel. The Economic COURT of the Gomel Region terminated the proceedings on the economic insolvency of the Gomel winery. Details of the recovery process were told to BELTA in court.

In the 2010s, a critical situation developed at the enterprise: persistent insolvency, large accounts payable , unprofitable production. We had to resort to extreme measures to get out of the crisis - contact the economic court of the Gomel region with a statement about the economic insolvency of the plant. In July 2015, the court introduced a reorganization procedure for the winery; in other words, its rehabilitation began.

“Each enterprise follows its own path to recovery, which includes a development strategy in the form of a set of measures aimed at improving the financial situation of the debtor and getting it out of the crisis. Initially, the reorganization period was set until January 2017, then, taking into account the apparent effectiveness of the measures taken, it was extended until September 2023,” explained Svetlana Demyanchik, judge of the economic court of the Gomel region, who was in charge of this case.

In order to improve the financial condition of the plant and gradually restore its solvency, a reorganization plan was developed. The “recipe” for recovery included long-term treatment with strategic economic operations. Thus, from July 2015 to September 2023, a number of diverse measures were implemented. One of them is partial modernization of production. The installation of new equipment and modern components at the existing facilities allowed us to expand the range of products and develop new types, including non-alcoholic drinks. The enterprise's share in the total sales of fruit wines in the republic increased to 18.4%.

The number of branded stores across the country has increased 10 times: from three in 2015 to 29 in 2023. During the reorganization period, the share of product sales by branded stores in its total volume increased 8 times from 2% to 17%.

Real steps have been taken to reduce the cost of auxiliary materials for the products manufactured by the plant. The collection of recycled bottles (1 million pieces per year) and cullet (1.5 thousand tons per year) was organized at 20 open stationary collection points. A site was created for which new equipment was purchased for the production of pet containers with an average monthly production volume of 310 thousand pieces. A site has also been formed with the appropriate equipment for the production of corrugated boxes for packaging manufactured goods (average monthly volume - 23 thousand sq.m.).

In addition, a radically new food production was mastered at the branch of the enterprise. And now 27 types of bakery and confectionery products are produced.

The integrated approach was effective. As a result, it was possible to improve the financial position of the enterprise. The plant reached break-even operation with a net profit with a constantly increasing total. 40% of the register of creditors' claims was repaid, including tax debts in full. Regarding the remaining debt, the creditors and the plant entered into a settlement agreement, the terms of which provided for the plant to be granted installment payments. “Since this agreement did not violate anyone’s rights and interests, at the end of September the court approved it and terminated the proceedings in the case of economic insolvency of the Gomel winery,” explained Judge Svetlana Demyanchik.

The court's ruling was not appealed and entered into legal force.