Furniture Maker Thulema Files For Bankruptcy

Furniture manufacturer Thulema filed itself for bankruptcy in Harju County Court today, saying that liquidity problems and difficult market situation makes it impossible for the company to meet its restructuring plan that was approved last October, reported aripaev.ee. The shareholders of Thulema are Finland's Puustelli Group with 29% of shares, BenSov OÜ (18%), Triomentor (35%) and Revalbonus (18%). The three last-named shareholders acquired a holding in Thulema in December 2009. As of April 30, Thulema's liabilities were 40.2 million kroon while assets were valued at 38.9 million kroons. Thulema was founded in 1992 and specialised in manufacturing and sale of office and store furniture. Read more.