Publication of the Latvian-language “Forbes” magazine has been temporarily suspended

Publication of the Latvian-language “Forbes” magazine has been temporarily suspended, according to a post on Twitter by Katrīna Iļjinskas, the entrepreneur and publisher of the magazine. She points out that the last issue of “Forbes” published by SIA “Business magazine” has now been published, as the five-year franchise license has expired.

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However, Ilyinska predicts that “Forbes” magazine could return to stores in August or September, when another company has received the license. “Taking into account the specifics of the field, the small market and a number of different circumstances, in general I do not recommend such an experience,” Iļjinska says in the post.

A new publisher will be found for the magazine, the “Forbes” archive is available at “forbesbaltic.com”.

LETA agency failed to contact Ilyinska.

Information from “Firmas.lv” shows that “Business magazine” had a turnover of 229,317 euros and a profit of 5,995 euros in 2021. Financial data for 2022 and 2023 have not been made public.

The company was registered in 2018, and its share capital is 10,000 euros, and the sole owner is Iļjinska.

The information published on the website of the State Revenue Service (SRS) shows that “Business magazine” had a tax debt of 65,628 euros on April 22. The SRS imposed a ban on the registration, renewal and amendment of the commercial pledge, as well as the reduction of the share capital, to the company last December.

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