Bolt Hits Back at 'Insolvency' Claim

Food delivery and ride-hailing service Bolt's local operators have hit back at a media report that suggested the operation is insolvent, the Times of Malta reported. In a judicial letter filed in court on Monday, BLT Food Malta Ltd, BLT Operations Ltd and BLT Malta Ltd took umbrage with a media report which included claims that the company is legally insolvent. On Sunday, MaltaToday reported how Debono Group, one of the principal investors in the local operations of Bolt, had gone to court to try and recover money it had lent to get the operation started in Malta. Debono Group says it invested just over €2million in the operation some two years ago. The group, known as the local importer of Toyota, then converted this investment into a loan, and asked the other players in Bolt to pay it back plus interest. More than a year has passed since this loan was to be repaid but the money never came through, Debono Group says. Read more.