Latvian power tool manufacturer Rebir is shutting down after 60 years of operation. The company's board decided to liquidate the business in September 2026 due to the loss of its primary markets in Russia and Belarus, which were critical to its operations.
Company chairman Nikolai Simorev stated that attempts to establish alternative export channels through Turkey and Kazakhstan were unsuccessful. The firm also lacked the capital required to expand into Western markets, while internal audits revealed a lack of production capacity and engineering resources.
In recent years, Rebir shifted its manufacturing to China, leaving only a small warehouse and retail shop in Rezekne with a staff of just over ten people. Although the company had no tax debts, its turnover had been in steady decline.
Liquidator Janis Spilve noted that while the sale of existing inventory helped keep the company afloat, it was insufficient for further development. The liquidation process, which includes auctioning off equipment and assets, is scheduled to conclude by the end of 2026.
