Börsiteade

Pealkiri

On Appointment of Bankruptcy Administrator to Group’s Subsidiary Wolska Aparthotel sp.z.o.o.

Teade

As it was disclosed previously, on 31 March 2020 City Service SE subsidiary Wolska Aparthotel sp.z.o.o. further – Wolska Aparthotel submitted a petition for bankruptcy to official institutions in Poland. On 8 June 2020, Wolska Aparthotel received court decision, declaring the bankruptcy of Wolska Aparthotel, and stating that bankruptcy administrator was appointed.

The revenue of Wolska Aparthotel in 2019 amounted to EUR 1.7 million, suffered EUR 0,45 million losses. In 2019, Wolska Aparthotel operations constituted 1% of the Group’s total revenue.

City Service SE emphasizes that all Company’s subsidiaries acting in apartments building administration business area in Poland continue its operations.

Artūras Gudelis,
Chairman of the Management board
+ 370 5 239 4900