Bankruptcy of transport companies in Lithuania

Last year Lithuania saw a record number of bankruptcies of haulage companies, and the situation this year is also alarming.

In April this year, two long-lived logistics companies declared bankruptcy, which will lead to the dismissal of about a hundred employees. According to Vytautas Milėnas, secretary general of the Lithuanian National Association of Road Carriers Linava, the situation in the industry is becoming increasingly difficult and bankruptcy cases may continue to increase.

According to Ekaterina Rojakas, head of the strategy and business development department at Creditinfo Lietuva, just over 60 bankruptcies occurred in the transport and logistics sector last year, while in the first four months of this year this limit of 50 bankruptcies has already been exceeded. In addition, solvency problems arise not only for small companies, but also for large players. The risk of payment delays in the transport sector continues to grow and is one of the most significant in Lithuania.