Snaigė heads toward bankruptcy after failed restructuring

Lithuanian refrigerator manufacturer Snaigė has asked a court to terminate its restructuring process and open bankruptcy proceedings.
The company said CEO Darius Varnas submitted the application to Kaunas Regional Court on September 30. Snaigė cited an unfavourable market environment, continuing losses and uncertain prospects for maintaining operations.
According to the company, liabilities to creditors exceed €12 million. Snaigė reported a loss of about €0.67 million for 2025.
The move marks the failure of an attempt to preserve one of Lithuania’s long-established industrial manufacturers through restructuring. The next stage will depend on the court’s decision on opening bankruptcy proceedings.