No Bananas fruit seller files for bankruptcy with 209,212-euro tax debt

Get Fresh Estonia, which sells berries and fruit under the No Bananas brand, filed for bankruptcy at the end of July, ERR reported, citing business newspaper Äripäev.

Andero Keronen, No Bananas’ chief executive and owner, said the filing followed a rapid deterioration in the company’s financial position. Management concluded that the company could no longer meet its obligations and that continuing operations or taking on new liabilities would be irresponsible.

“At the beginning of July, it became clear that the company’s financial position was significantly worse than could be assessed based on earlier information,” Keronen said. He added that the company was conducting a detailed analysis with a financial expert to gain a full overview of the reasons for its poor financial condition.

By mid-August, the company had accumulated a tax debt of 209,212 euros, consisting entirely of value-added tax.

During the summer, No Bananas announced on its website that it would close its sales stands in Latvia and Hiiumaa, as well as its online shop and ordering options through Wolt and Bolt Market.