UAB 'Medinis pasaulis', a company specializing in the production of wooden prefabricated buildings, has announced its impending bankruptcy as it notified the Employment Service of Lithuania about plans to lay off all of its 87 employees. The layoffs will affect multiple roles, including 50 woodworking machine operators and several other staff members. This decision comes amidst ongoing financial struggles, with significant debts and losses reported over the past year.

The company’s financial report indicates revenues of approximately 9.7 million euros in 2024, with a net loss of 337,000 euros, raising concerns about its viability in the market. The Employment Service's representative noted that this situation has been exacerbated by delays in the supply chain, particularly due to detained trucks in Belarus, leading to increased operational challenges for the company. As a result, the layoffs are expected to occur between March 30 and April 30, 2026.

There is also an ongoing issue with the company's debt to the Social Insurance Fund, amounting to 106,884 euros, further complicating its financial situation. The news highlights the broader economic difficulties faced by construction companies in Lithuania, emphasizing the vulnerability of businesses reliant on timely deliveries and stable operational conditions. The implications of this bankruptcy could ripple through the local economy, as affected employees will seek new employment opportunities amidst a challenging job market.