The court initiated a bankruptcy case against Integre Trans, which was seeking restructuring Business

The company “Admivita” was appointed as the company’s bankruptcy administrator.

Integre Trans will also apply to the court to sue subsidiaries in Poland, Germany and France.

The Vilnius District Court had already filed a bankruptcy case against the company on July 17, and then it temporarily seized the company’s assets. However, in August, at the company’s request, the Lithuanian Court of Appeal recognized that the bankruptcy case against the company was unjustified and sent it back for retrial.

In June, the court temporarily restricted the actions of the company’s creditors – forbade them to submit property claims to the company, apply for seizure of its assets, terminate or refuse to perform contracts, also ordered to stop the forced collection of assets, forbade the owners of the company’s bonds to demand that they be redeemed earlier than May 5, 2026.

Hoping that a restructuring case would be filed against the company, Integre Trans was going to purchase LitRanger, the Marijampole transport company indirectly managed by Andrias Zimnickos, but it abandoned its plans after the bankruptcy case was filed.

Integre Trans then announced that it planned to resume negotiations with other potential investors.

“Integre Trans” has offices in Lithuania, Poland, France and Germany, and the main export countries of its services are Germany, France, Benelux countries, Italy, Spain and the United Kingdom.

Currently, 423 people work in the company, although in the lawsuit to the court, its manager previously indicated more than 1,000.

Integre Trans experienced a loss of 4.87 million in the first quarter of this year. EUR net loss (last year – EUR 0.48 million net profit), its income amounted to EUR 39.64 million. EUR – 15.9 percent. less (47.13 million euros).

According to the company’s arguments to the court, its operations became unprofitable in 2023 due to increased competition and cost.

The court’s decision can be appealed to the Lithuanian Court of Appeal within seven days from the date of submission of a copy of the decision.

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