By a ruling that entered into force on 3 December 2025, the Panevežys Regional Court decided to initiate bankruptcy proceedings for the private limited liability company Aliuminio fasadai, which is part of the PST Group AB group of companies. The court appointed Mindaugas Krupavicius as the insolvency administrator and instructed him to convene the first meeting of creditors within the time limit and according to the procedure established by law.
Aliuminio fasadai UAB encountered difficulties rooted in the pandemic period - disrupted supply chains and changes in project scopes resulted in losses that the company was unable to recover from even after the market rebounded. The situation was further aggravated by some clients who failed to pay for the completed works.
PST Group AB is the largest creditor in this process, so this decision is painful for us as well; however, we no longer see a realistic possibility for this subsidiary to overcome its financial challenges. We emphasize that the group's operations continue steadily - this is an isolated case that will not affect the obligations or ongoing projects of other companies within the group. Our goal is to learn from this experience and to strengthen the risk management in the future.
More information:
Tomas Stukas
Managing Director
Tel.: +370 618 21360
