Co-founder of Primetime coffee houses in Novosibirsk declared bankrupt

The Novosibirsk Regional Arbitration Court declared Anton Gorestov insolvent.  An entrepreneur, who filed for his own bankruptcy in September 2021, found himself in debt for 15.6 million rubles.

Now the businessman will not be able to remain the CEO of a number of companies under his control.  The court also introduced a procedure for the sale of property.  It will be held under the leadership of the financial manager Alexander Ledvin.

The reason for the bankruptcy is a pandemic that hit the public catering industry hard.

 Last spring, Gorestov's share in the Uncle Dener network was bought out by Lyudmila Suprun.  The businessman also got rid of the establishments of the Organic Coffee chain.

Experts note that the owner of Primetime tried to negotiate with creditors.  However, judging by the decision taken by the arbitration court, this did not help.

Back in the summer, a lawsuit by the Upal FD bank of Perm with the requirement to declare the brainchild of Gorestov bankrupt, the Primetime company, which manages the cafe chain of the same name, was filed with the court.  The firm was renamed ‘Academy’ LLC and its debt to the bank amounted to almost 88.85 million rubles.  On September 6, the firm came under observation.

More than 30 establishments have recently operated under the brand of the Primetime network, founded in 2017.

Now, as experts note, many coffee shops operate under a franchise and have nothing to do with the bankruptcy of the Academy.