Feb 12 • 11:21 UTC 🇱🇹 Lithuania Lrytas

Gastrobar in the center of Klaipėda goes bankrupt – overwhelmed by debts

A gastrobar in Klaipėda, Lithuania, has been declared bankrupt due to financial difficulties, with debts amounting to nearly €165,000.

On January 29, during a creditors' meeting, the company 'Miražai' faced significant financial difficulties, leading to an agreement to proceed with bankruptcy outside of court. The meeting minutes indicated that the company cannot repay its accumulated debts to all creditors, which total almost €165,000. Previously, the gastrobar had been promoting itself on social media, calling on patrons to visit, despite its financial troubles.

Established in early 2022 and operated by two individuals, one of whom is the primary creditor demanding repayment of €130,000, 'Miražai' struggled to generate profit from the outset. Despite generating revenue of €104,000 in 2024, the business faced a loss of €25,000, while in 2023, it exceeded €174,000 in turnover but incurred a loss of €24,000. Additionally, the company owes over €4,500 in taxes, with the remaining debts owed to two other individuals.

The bankruptcy of 'Miražai' raises questions about the challenges faced by new businesses, particularly in the hospitality sector in Lithuania, which has been impacted by various economic pressures. As social media promotions failed to translate into sustainable profits, this situation serves as a cautionary tale for aspiring entrepreneurs in the region, highlighting the importance of sound financial management and realistic business planning.

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