OREANDA-NEWS. February 05, 2014. The founder and major shareholder of fuel station chain Olerex, Andres Linnas, will reopen a bankrupt bread factory in Tartu, with ambitious plans.

The 122 employers of the Pere bakery, owned by OU Linerel, will receive their redundancy notices this week, having stopped working last week, but Linnas's OU Eesti Leivatoostus already has plans to reopen production next week, with a staff of between 30 and 40 people, ERR radio reported on Tuesday.

“The [Pere] bakery once employed over 200 people and the 122 was a bare minimum. We do not want to stay at Linerel's level, but to grow. We want to create a large and leading Estonian bread industry in Tartu,” Linnas said.

Over 100 tons of bread is consumed daily in Estonia, with Linnas saying that he is not concerned about trouble breaking into the market.