Restructuring. Panek is in financial trouble. What about rental cars? We have the president’s comment

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The arrangement day of Panek SA was set for February 8. This is the result of company problems that were discovered over a month ago.

“The supervisor of the arrangement, which is Zimmerman Filipiak Restrukturyzacji spółka akcyjna in the restructuring proceedings (arrangement approval proceedings) of the debtor, which is PANEK spółka akcyjna, hereby, pursuant to Article 226a(1) of the Act, announces that the arrangement date is set for February 8, 2024” – we read in the announcement.

There are several dozen creditors, with varying amounts. We have suspended car sales and the entire fleet replacement process. The suspension caused financial problems, and the restructuring is intended to help us regain the efficiency of replacing the frozen fleet – explains Maciej Panek.

The company sells several thousand cars a year. – These are large operations and even a month-long suspension of cars causes problems. Here we are talking about several million zlotys of losses – adds Panek.

The rest of the article is below the video

See also: “One car earns several thousand a month.” Maciej Panek – Business Class #4

“We will stand on our feet”

The above-mentioned Zimmerman Filipiak Restrukturyzacji Law Firm is responsible for the three-month restructuring.

– They will help us through this process. They have had many restructuring successes and I hope that they will help us get back on our feet after the temporary problems. Our customers can feel safe. This does not affect the carsharing business, there will be no shortage of cars for rent – announces Maciej Panek.

According to “Gazeta Wyborcza”, in 2022, Panek achieved revenues of PLN 196.8 million, and costs reached PLN 196 million. The profit amounted to PLN 825 thousand. zloty.

“There are no coconuts”

– A car has a turnover of several thousand zlotys per month, but at the same time it costs several thousand zlotys. We have to work hard to be profitable – said Maciej Panek in the program. According to him, customers do not accept price increases, which is especially difficult at a time of high inflation.

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