LLC Ivmolokoprodukt closed due to a shortage of working capital

Источник: The DairyNews
According to the Department of Agriculture and Food of Ivanovo region, LLC Ivmolokoprodukt is being liquidated, and the government of the region ‘is taking measures to preserve the profile of the company's activities at the existing production facilities by a new owner,’ writes The DairyNews.

As the agency previously reported, a large dairy plant of LLC Ivmolokoprodukt is closing in Ivanovo. Representatives of the Department of Agriculture and Food commented on the situation, noting that the decision to suspend operations was made by the owner, since the company's activities became unprofitable. This is due to a shortage of working capital for the purchase of raw materials and payment for fuel and energy resources.

Among the main reasons for the lack of working capital, the management of LLC Ivmolokoprodukt named, firstly, the increase in the cost of milk production and processing, since raw materials occupy a large part of the structure of the cost of milk processing. Secondly, the depreciation of the ruble. In addition to foreign equipment, imported materials and food components are used in the production process: fruit fillers, powdered vegetable and fruit mixtures, maltodextrin, lactose, sourdough for dairy products, food dyes, retail and industrial packaging. Thirdly, the rise in the cost of packaging materials, electricity and gas, as well as the introduction of mandatory labeling and a significant increase in transportation costs. 

‘The increase in cost was noted throughout the chain of production of finished products,’ the official response says, ‘In addition, LLC Ivmolokoprodukt was focused on the production of products for the social sphere. The coronavirus pandemic had a negative impact on the public procurement sector, which also led to a deterioration in the financial situation of the enterprise. The government of the region is taking measures to preserve the profile of the company's activities at the existing production facilities by a new owner. Currently, a number of processing enterprises in the region are ready to accept former employees of the milk processing industry.

According to the data provided by the regional Department of Agriculture and Food, the total number of employees of the enterprise before the liquidation procedure was more than 170 people. According to Ivanovostat, as of 01.11.2021, there is no wage arrears to employees. Currently, some of the company's employees have left on their own.

According to the information on the mass release of employees prepared by LLC Ivmolokoprodukt, 50 employees of the enterprise will be relieved of their positions until 12.02.2022. 



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