The company 'Ponas', which has been operational for 21 years, is filing for bankruptcy, resulting in the dismissal of 49 employees, primarily waitstaff and cooks.
The Lithuanian company 'Ponas', known for operating popular restaurants, has announced its bankruptcy, having declared insolvency to creditors in fall of last year and currently seeking a court ruling. According to Milda Jankauskienė, a spokesperson for the insolvency administrator, the company is proceeding with the layoffs of 49 employees, which includes predominantly waiters and cooks, effective February 18th under the stipulations of the Labor Code.
As of February 18, 2026, the 'Ponas' company owes the State Tax Inspectorate €140,000 and €58,500 to the social security fund, indicating severe financial distress. The company's revenue recorded in 2024 was €1.75 million, but with losses exceeding €78,000, it clearly reflects a struggling business unable to sustain its operations. This financial predicament not only affects its employees but also raises concerns about the future of the well-regarded establishments under its management.
Operating for 21 years, the closure of 'Ponas' marks a notable impact on the local hospitality sector. The layoffs reflect a larger trend within the industry as various factors contribute to the financial woes of restaurant businesses, prompting discussions on the sustainability of such establishments in an increasingly competitive market. The situation highlights the challenges faced in recovery post-economic disruptions and the necessity for strategic shifts in the hospitality industry.
