The newspaper said investors suffered losses of hundreds of thousands of euros after demand for insect protein failed to grow as expected.
In late 2025, Divaks chief executive and shareholder Kęstutis Lipnickas said the company had streamlined its operations while waiting for demand to become sufficiently broad, stable and predictable.
By the end of 2024, Divaks had accumulated losses of 4.8 million euros and held tangible assets worth 145,250 euros. It has yet to publish its 2025 financial results.
Out-of-court bankruptcy proceedings were launched, and the company’s legal status was changed to “in bankruptcy” on 16 June.
The largest shareholders were Optimum Financial Management, controlled by Audrius Grušnys, with a 27.8%…