The Municipal Court in Prague has confirmed the bankruptcy of ICL Czech, which operates the UK grocery chain Iceland in the Czech Republic. It declared bankruptcy over its assets.
The company filed for insolvency proceedings at the beginning of May, citing business restrictions due to the coronavirus pandemic and the UK’s departure from the European Union as reasons for its bankruptcy.
In its insolvency petition, ICL Czech said it had around CZK 74.9 million liabilities. Creditors have until the beginning of August to report their claims to the Prague City Court. A review hearing of the allegations and a meeting of creditors will be held on September 6.
Iceland.cz wrote on Facebook on Friday that people can still buy frozen food in two stores, in Prague-Hloubětín, and on Leopoldova Street in Chodov. However, it also has a list of ten stores on its website. It has previously announced the closure of its e-shop on its website. The chain entered the Czech market in 2011, with its first store in Pilsen.
In addition to difficulties due to the pandemic and Britain’s exit from the EU, which caused an increase in the cost of transporting goods and delays in deliveries, ICL Czech also justified its decline by rising energy prices.
According to the company’s bankruptcy petition, even significant restructuring of operations and savings in material and personnel costs were insufficient in light of the unexpected increase in other expenses.
Nordsee is also in trouble
Master Mariner, which operates restaurants of the German chain Nordsee in the Czech Republic, is asking the court to declare bankruptcy on its assets. It follows from documents published in the insolvency register.
Master Mariner went into loss in 2019 when its branch in Prague’s Arkády Pankrác center ceased to operate. The company said the next two years of business were affected by the forced closure of the outlets due to the spread of a coronavirus outbreak. Even this year, footfall has not returned to pre-coverage levels, leaving the company unable to pay new and previously outstanding debts, it said in its insolvency petition.
The company records a debt of about CZK 40.3 million, most of it in koruna, with other liabilities in euros and Swiss francs.
The first Nordsee restaurant in the Czech Republic welcomed guests in 2004, and ten years later, Master Mariner operated four businesses under the brand. It now has two branches in Prague-in the Palladium and Nový Smíchov shopping centers.
It’s very easy to find out any topic on web as compared to textbooks, as I found this piece of
writing at this website.
Hey, I think your website might be having browser compatibility issues.
When I look at your blog site in Opera, it looks fine but when opening in Internet Explorer, it has
some overlapping. I just wanted to give you a quick heads up!
Other then that, fantastic blog!
I blog often and I truly thank you for your
content. The article has truly peaked my interest. I will take a note of your
blog and keep checking for new details about once per week.
I opted in for your Feed as well.
It is advisable to bbank with genuine cash casinos so as to be
capable to accumulate spend-out.
Here is my web-site – Online Casino
I do accept as true with all the concepts you have offered on your post.
They’re very convincing and can definitely work. Still, the posts
are very brief for newbies. May just you please prolong them a little from next
time? Thank you for the post.
You’re so interesting! I do not think I’ve read through anything like
that before. So great to find another person with unique thoughts on this issue.
Seriously.. thank you for starting this up.
This site is one thing that is needed on the web, someone with some
originality!
This is a topic that is close to my heart… Many thanks!
Where are your contact details though?
I don’t even know the way I finished up here, but I assumed this submit was great.
I don’t recognize who you might be however certainly you are
going to a famous blogger should you are not already.
Cheers!
Definitely believe that which you stated. Your favorite
reason seemed to be at the internet the simplest factor to remember of.
I say to you, I definitely get irked whilst
other folks think about issues that they just
don’t realize about. You controlled to hit the nail upon the
highest as neatly as outlined out the entire thing with no
need side effect , folks could take a signal. Will likely be back
to get more. Thanks
Do you have a spam issue on this blog; I also
am a blogger, and I was wanting to know your situation; we
have developed some nice procedures and we are looking to exchange techniques
with others, please shoot me an e-mail if interested.
Good day! I know this is kind of off topic but
I was wondering if you knew where I could get a captcha plugin for my comment form?
I’m using the same blog platform as yours and I’m having difficulty finding
one? Thanks a lot!
I’ll immediately clutch your rss as I can not find your
email subscription link or e-newsletter service. Do you have any?
Kindly permit me recognise in order that I may just subscribe.
Thanks.
Thank you for any other magnificent article. Where else may anybody get that kind of information in such a perfect
way of writing? I’ve a presentation next week, and I am at the search
for such info.
Excellent post. I was checking constantly this weblog and
I’m inspired! Very useful information particularly the last part 🙂 I deal with such info
much. I was seeking this certain info for a long time.
Thanks and best of luck.
New players are welcomed with a beautiful 250% deposit match bonus for fiat currency deposits,
capped at $1,500.
Excellent blog post. I definitely appreciate this website. Stick with it!
Membership packages let you create a facial routine and add on other therapies at a discount.