Ukrainian bakery network enters Czech market

MOSCOW. Oct 29 (Interfax) - The Ukrainian restaurant network Lviv Croissants has entered the Czech market and opened its first establishment in Prague, Ukrainian media said, citing a company statement on a social network.

"Lviv Croissants is continuing its international growth. The opening of a new restaurant in Prague is one more step towards familiarizing the world with our croissants," the statement said.

The restaurant opened at the Palladium shopping mall near the Charles Bridge in the Center of Prague. It occupies 173 square meters and has 60 seats.

Lviv Croissants is a Ukrainian international franchise restaurant chain, founded in 2015. It specializes in the production of croissants, and has 177 establishments in Ukraine, 11 in Poland, one in Slovakia and one in the United States. The company is part of Fast Food Franchising Group.

Fast Food Franchising Group LLC was founded in 2015 in Lvov.

The company posted net loss of 598,300 hryvni in 2023, versus 483,000-hryvni net profit a year earlier. Last year, revenue grew 55.1% to 6.939 million hryvni, debt obligations increased 9.7 times to 188,900 hryvni, and assets decreased by 19% to 1.89 million hryvni.

Company beneficiaries are Firma Infobud, which holds a 50% stake, as well as Yevgeny and Andrei Galitsky (20%), and Yury Zagrodsky (10%).