The Economic Court of the Grodno Region declared JSC “Grodno Shoe Factory ‘Nemann’” insolvent. A 36‑month rehabilitation procedure was initiated against the company.

The factory announced this on Instagram. It emphasized that insolvency does not mean bankruptcy or liquidation. According to factory representatives, the rehabilitation is intended to restore the company’s financial position and allow it to continue operating.

In the statement it explains that rehabilitation is a set of measures for the financial health of the enterprise. Under the procedure, the debtor receives a debt moratorium and legal protection to restructure operations and restore profitability.

The factory also requested that the company not be called bankrupt, noting that in this case such a designation is considered legally incorrect.

• The rehabilitation procedure is aimed at stabilizing the company’s operations, not at its liquidation.