“Skai Baltija” LLC, which operates the “Sky” supermarket chain, filed for bankruptcy on Friday, March 13th, the company announced.
“Skai Baltija” management noted that the company is no longer able to compete in a price war with large foreign-owned retail chains. Additionally, the geopolitical situation in recent years has significantly increased operating costs.
The “Sky” retail chain, managed by a locally owned company, was established more than 25 years ago. During its operations, the company has contributed more than 63 million euros to the Latvian state budget.
The “Sky” stores at 19A Duntes Street and 28 Hipokrāta Street will continue to serve customers until further notice. However, the stores at 8 Siguldas Highway and 122 Kārļa Ulmaņa Street are no longer open to customers.
Information available from “Lursoft” shows that “Skai Baltija” had a turnover of 23.74 million euros in 2024, which is 17.3% less than the previous year. The company reported a loss of 2.63 million euros in 2024. The sole owner of “Skai Baltija” is Aivars Rubenis.
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