Amber Latvijas balzams, a prominent figure in the Latvian alcohol industry and renowned for its production of Riga balsam, is currently grappling with a severe financial crisis. The company is reported to be on the verge of bankruptcy, largely due to its substantial debts that have accumulated over the years. Specifically, Amber Latvijas balzams owes over 28 million euros to the Latvian government, placing its future in jeopardy.

The situation is further complicated by the economic climate in Latvia, which has put additional strain on businesses across various sectors, especially within the alcohol industry. The company's financial issues are not only a matter of corporate concern but also reflect broader economic challenges facing the region. The potential bankruptcy of such an iconic manufacturer raises questions about the preservation of Latvian cultural products that are integral to the country's heritage.

If Amber Latvijas balzams fails to recover from this crisis, the implications could be far-reaching, affecting not just the employees and stakeholders of the company but also the national economy and the global image of Latvian products. The government may need to consider options for intervention or support to try to stabilize the situation and prevent a collapse that could resonate throughout the industry.