Lehto's subsidiaries Lehto Asunnot, Lehto Tilat and Lehto Korjausrakentanmen filed bankruptcy petitions with the Oulu district court on Tuesday.
Tuesday the subsidiaries of the construction company Lehto Group that filed for bankruptcy have a total debt of more than 66 million euros.
Lehto's subsidiaries Lehto Asunnot, Lehto Tilat and Lehto Korjausrakentanmen filed bankruptcy petitions with the Oulu district court on Tuesday.
According to Lehto, the companies filed for bankruptcy because they no longer have sufficient funding to continue their operations.
Based on the applications, Lehto Asunni has the largest debts. The company had more than 37 million euros in debt. Almost EUR 10 million of the debt was internal, as the company also owed Lehto Asunnoi, which filed for bankruptcy, EUR 6.3 million. The company owed Lehto Group more than 930,000 euros.
Lehto Asunnoi owed about a couple of million euros to the tax administration.
Lehto Asunnot is the largest part of Lehto. In 2022, the turnover of the entire Lehto Group was approximately EUR 345 million. According to Asiakastieto, Lehto Asunto's turnover in 2022 was approximately EUR 212 million. In the same year, Lehto Tiloje's turnover was around 130 million euros.
Lehto Farms has debts of almost 25 million euros. Its largest single creditor is the Tax Administration, to which the company owed more than 3.2 million euros. Lehto Farms also had internal debts, as the company owed Lehto Asunnoi two million euros.
Lehto Korjausrakentina has a debt of 4.4 million euros. Its biggest creditors are OP and Nordea.
#plight #construction #industry #Lehto39s #failed #subsidiaries #owe #million #euros
