LC S.A. (Poland)

LC S.A. is an importer of lighting fixtures and electrical equipment, operating in the domestic market for over 30 years. The company was established in 1990 by its current major shareholders, initially focusing on wholesale and retail trade of electrical materials. In 1995, it was transformed into a joint-stock company, and in 1997, its shares were listed on the Warsaw Stock Exchange. For nearly 24 years, LC S.A. engaged in wholesale distribution of electrical materials through a network of warehouses mainly located in the central and southern regions of Poland. Since 2012, the company has been involved in the import and distribution of industrial lighting fixtures using induction technology under its own brand. In July 2014, LC S.A. filed for bankruptcy with the possibility of reaching an agreement with creditors, due to difficulties in collecting debts from unreliable contractors. During this period, the company made a significant change in its business profile, selling part of its assets related to wholesale activities and focusing on the import of induction lighting and light sources. Currently, leveraging its nearly 25 years of experience, LC S.A. is expanding its sales of imported lighting fixtures under its own brand, including induction and LED fixtures, as well as electrical equipment. The company continuously expands its product range to meet market demand. Following a successful restructuring and the agreement with creditors, on June 27, 2022, the District Court in Tarnow issued a ruling to conclude the bankruptcy proceedings, which became legally effective on July 12, 2022. This is a historic day for the company, as it managed to survive the most challenging times and successfully implement changes that allowed its continued existence. The end of the bankruptcy process marks the beginning of a new chapter, presenting opportunities for further development but also new challenges in fulfilling the obligations of the agreement with creditors and meeting the growing demands of the market. LC S.A. intends to fully capitalize on this opportunity. Despite the complex economic situation, the company approaches new challenges with optimism and confidence in success, just as it believed in the success of its recovery from bankruptcy. Continuing proven restructuring efforts, quickly adapting to market changes and needs, and continuously expanding the product offering are the company's recipe for success.