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|---|---|
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Lehto Group Plc
Inside information
15 February 2024 at 9:00 (Finnish time)
The Board of Directors of Lehto Group Plc ("Lehto") has decided to file for corporate restructuring proceedings at the district court of Oulu.
Throughout 2023, Lehto has disclosed its difficult financial situation, which has been exacerbated by the challenging market situation in the construction industry. The operative subsidiaries of Lehto, Lehto Asunnot Oy, Lehto Tilat Oy, and Lehto Korjausrakentaminen Oy, have been declared bankrupt on 8 February 2024 due to which the operative cash flow of Lehto has mainly ceased. These companies covered the majority of Lehto's business.
As part of the corporate restructuring proceedings Lehto plans to divest its whole construction business and any holdings related thereto and reviews options to expand to new business areas and acquire new business.
Major creditors of Lehto support the initiation of corporate restructuring.
Lehto Group Plc
Board of Directors
Further information:
Juuso Hietanen, CEO
+358 50 343 4023
juuso.hietanen@lehto.fi