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HATC SAMPLE EDITION:
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9th November, 2026
Norbi Update faces liquidation, last store closes
The last Norbi Update store closed after liquidation proceedings were ordered against operator Update Market Kereskedőház, the company that took over the low-carb bakery product franchise from fitness guru Norbert Schobert in 2023.
Even as the company booked a net profit of Ft 164.5 million last year on Ft 747.3 million in revenue, its short-term debt surged to Ft 366 million, while its cash reserves dried up, falling from Ft 197 million to Ft 4.3 million in just one year.
Outstanding debts included nearly Ft 8 million for pastry deliveries, Ft 6-6.5 million for pasta supplies and a further Ft 5 million for packaging materials.
Upon taking over the business, owner Zoltán Fazekas promised expansion and product development, but later faced unpaid supplier invoices and repeated tax authority proceedings.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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