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Liquidation of Vision subsidiaries

11/11/2014 15:48
The management of Vision International announced the cease of operations of Group companies in Latvia, Lithuania and Hungary and liquidation thereof.

According to the announcement, this consists part of the continuing restructuring of the Group.

“The distributors shall be served directly via the Global Ordering System and Europe’s web-shop through which they can place their orders and receive their products respectively”, the announcement added.

In any case one representative of the Company shall be maintained in each country respectively to handle any matter as appropriate.

The liquidation procedure is expected to commence shortly.

Vision announced six-month losses of €3.1 million against profits of €175.1 thousand in the corresponding period of 2013.