Larva factory in Üllő goes bankrupt: investors suffer billions in losses
Published
Serious financial problems have emerged at a recently opened plant in Hungary. The factory, built in Üllő in 2024 and dedicated to breeding insect larvae, has gone bankrupt, causing significant financial losses for investors.
A total of 30 million euros, or approximately 10.9 billion forints at the current exchange rate, was invested in the project. Several parties participated in the investment, including business circles linked to the government-adjacent economic sphere.
The goal of the factory was to produce animal feed using innovative technology; however, the venture, which started with high hopes, became insolvent in a short period of time. According to experts, the unexpected bankruptcy raises serious questions regarding the economic background of the project and the fate of the invested capital.
Currently, authorities and creditors are working to determine what caused the company's collapse and what options remain for recovering a portion of the invested money. The process is expected to take a long time, as responsibilities must be clarified during the liquidation proceedings.
The case has caused a major stir in economic news, as it is rare for such a significant project supported by state and private capital to fail in such a short time. The public is now waiting to see who will be held accountable for the billions that have been burned.
Sources: | hvg.hu
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