Kaido Peiker to Go On Hunger Strike

The decision taken by Estonian businessman Kaido Peiker is one of those that might mark a changing point in the way business relations are lived in the country and destroy the reputation of who thought that obligations towards creditors are nothing but mere words written in useless contracts.

Kaido Peiker, owner of the garment producing company Fashion Designers and the transporting enterprise Baltic Cargoline Pro announced in fact to be ready to start a hunger strike to convince his debtors – Baltika clothing company and Glaskek windows producer – to pay their due amount without any further delay or excuse.

According to what declared by Mr. Peiker, debtors did not return the businessman’s phone calls and therefore, the entrepreneur made a plan to visit the companies owning him money without prior notification.

After paying his first visit to Baltika for getting at least a confirmation that the due amount would have been paid within a week, Peiker was convinced by the success of the initiative since the clothing company honored its obligations in less than 24 hours.

But things changed once he decided to visit the biggest Estonian windows produces Glaskek with the same purpose, since the unconfirmed promise made by its Finance Director of paying the 50% of its debt by the day after the visit was not fulfilled.

According to Peiker, Glaskek transaction covered only the 25% of the total amount and this motivated him to take an unusual measure as the hunger strike.

Discussing his decision with the Estonian financial daily Aripaev, Kaido Peiker explained how – in his opinion – this could be an effective way to motivate his debtors to fulfill their obligations and pay back the credits due to his group.