Mere grocery chain crisis leaves 1.52 million euros in assets frozen

The closure of the "Mere" grocery store chain in Latvia has led to the freezing of approximately 1.52 million euros in funds and goods belonging to Latvian merchants. The Latvian Traders Association (LTA) reports that ten producers and wholesalers have already sought assistance regarding the crisis.

Large quantities of perishable food, including meat and eggs, are currently spoiling in the closed stores. Due to existing administrative restrictions, these products cannot be donated to charities, leading to significant food waste. Additionally, reports indicate that employees of the chain are not receiving wages, as the Financial Intelligence Unit (FID) has prioritized the return of goods to owners.

To mitigate the impact, the LTA is negotiating with the Ministry of Agriculture and the Food and Veterinary Service (PVD) to establish a special "force majeure" regime. This would allow recovered food products that meet safety standards to be returned to the market quickly, helping to maintain low prices for low-income consumers and reduce waste. The LTA is also in discussions with the FID to expedite payments to employees and suppliers.