Legendary Snaigė factory in trouble: Can it survive?

Snaigė, the legendary Alytus refrigerator factory once known across the Baltic states, is struggling to survive. The company has spent four years under insolvency status after financial difficulties led to restructuring proceedings.

Snaigė now has a restructuring plan, but it still owes creditors millions of euros. Since new managers took control three years ago, the company no longer seeks to increase household refrigerator production. Instead, it aims to give up those products, and the number of employees is falling.

The factory is also late paying wages. The question now facing Alytus, the capital of Dzūkija, is whether Snaigė can continue operating there.