Polívka farm & hotel declared bankrupt

The regional court in Brno has declared a farm, hotel and wellness complex in Olšany belonging to well-known Czech comedian Bolek Polívka, bankrupt. The bankruptcy administrator has registered 55 related claims by creditors, owed a total of 56.3 million crowns. Mr. Polívka himself is one - owed nine million crowns of his own money he put into the project. The court issued its ruling ahead of a meeting of creditors later this week. The farm and hotel fell into financial difficulty after renovation costs ballooned past original estimates. The farm, which employed 21 people, had been losing money since last March. The mayor of Olšany has expressed hope that the farm will continue, saying it was an important cultural venue that had also provided jobs.

Author: Jan Velinger