Baltika, an Estonian clothing company with a history spanning nearly a century, has filed for bankruptcy after years of financial struggles. The decision follows a failed restructuring attempt and the cumulative impact of tough economic conditions in the Baltic retail market.

The move results in the layoff of 120 employees across its operations in the Baltics, in Estonia, Latvia and Lithuania, as the company prepares for a gradual closure of its retail stores.

While the wider company faces liquidation, Baltika's parent company, ELG, retains ownership of the last remaining brand, Ivo Nikkolo and says that it may attempt to revive the Ivo Nikkolo brand via wholesale and e-commerce in other European markets in the future. 

Read more at Baltic News

---

​

Petrofac, a major UK-based oil and gas contractor with about 7,300 employees globally, has filed for administration, endangering more than 2,000 jobs in Scotland, particularly around its North Sea operations.  

The ultimate holding company applied to the High Court following the cancellation of a crucial offshore wind contract by European grid operator TenneT due to the firm's failure to meet its obligations. This setback made a planned solvent financial restructuring impossible.

Petrofac's struggles are rooted in years of issues, including a 2021 conviction for failing to prevent bribery and high debt (up to $4 billion). While the administration only applies to the holding company and UK operations continue for now, the move casts doubt over the future of the entire group. The UK government is coordinating support for the company's domestic arm, hoping to secure its long-term future.

Reported here in The Guardian

---

​

Waterline Limited, one of the UK's largest independent kitchen and bathroom distributors, founded in 1947, has entered administration and will be wound down after a search for a buyer failed. The company, which had seen strong growth in 2021 and 2022, declined sharply due to a drop in consumer spending on home improvements, high interest rates, and the cost-of-living crisis. Waterline reported a £2.2 million operating loss in the year to March 2024, down from a profit the previous year.

Joint Administrators from Leonard Curtis were appointed on October 9 and, while there was interest in the company's stock and IP, no buyer was willing to take on the business as a going concern.

This collapse highlights the challenging economic pressures facing the UK construction and retail supply chain.

Read the full report at Business Sale Report here

---

​

This crisis is evidenced by 645 insolvencies in Q2 2025 alone, a 55% rise over two years. This surge is driven by a deep structural problem: French hauliers have the lowest profit margins in Europe, at just 2–3%, which leaves the sector extremely vulnerable.
The operational challenges are compounded by plummeting business confidence due to insufficient demand and the current fiscal and regulatory environment. While diesel costs have stabilised, other operational expenses, such as wages and insurance, have continued to increase, further challenging the thin margins and threatening the viability of French operators.
This vulnerability to cost inflation and weak demand is a major structural challenge that threatens the stability of European logistics.

More at: https://trans.info/en/france-insolvency-421116

---

​