Tax Administration seeks bankruptcy for Olympia Restaurants over roughly €50,000
The Finnish Tax Administration has filed a bankruptcy petition against Olympia Restaurants Ltd at Pirkanmaa District Court over roughly €50,000 in enforcement claims.
Olympia Restaurants Ltd is facing another bankruptcy petition in Tampere after the Finnish Tax Administration filed papers on Friday at Pirkanmaa District Court.
The company that runs restaurant Muusa, the Olympia concert venue and the Puutarha courtyard terrace in the Olympia-kortteli on Satakunnankatu currently has about €50,000 in enforcement claims, broken down as roughly €11,700 in unpaid value added tax, €920 in statutory insurance charges and about €37,000 owed to an accounting service. The tax items have been in enforcement for almost two months and the accounting-service claim dates to March, Aamulehti reported.
A bankruptcy petition does not automatically mean the business is insolvent. A judge at the district court will decide.
This is the second petition this year. The Tax Administration last sought bankruptcy in March 2025 over nearly €110,000 in unpaid taxes. Chairman Mikko Lahtonen has said higher costs and interest rates, falling purchasing power and weak consumer confidence have hurt trade in the Olympia-kortteli, though he told Aamulehti in April that the year-end looked promising for gigs and corporate events.
The company has not yet filed its 2025 financial statements. Its 2024 accounts show a €48,000 loss on €2.1 million revenue, down from €2.4 million in 2023.
The petition comes amid a series of local bankruptcies and insolvencies this summer, including the cancellation of a Ratinanniemi festival after organiser Tuhti Events filed for bankruptcy the festival's cancellation and the Löytötex retail chain's bankruptcy and store liquidations which led to layoffs.
Earlier coverage
Catch the full story over at Aamulehti
