Saratov confectionery factory owed almost 700 million rubles and went bankrupt

The Arbitration Court of the Saratov Region has recently declared Konsar JSC insolvent.  The firm operated a well-known regional factory that produced confectionery under the Confashion brand.  The bankruptcy proceedings will last for 5 months.  The court appointed Yulia Verkhovtseva to manage the bankruptcy proceedings.

The initiative to recognize the insolvency of Konsar JSC in November 2020 was made by the Novosibirsk company Harmens.  Its claims amounted to about 2.77 million rubles.  However, in the process of judicial review, another 23 creditors announced their claims, and the total amount of financial obligations was estimated at more than 697 million rubles.

The reason for the appeal to the court, apparently, was “no activity” regime introduced at the enterprise in October 2020, to which the factory personnel were transferred.  This event caused a wide resonance in the media.

Regional authorities announced plans to pull the company out of the crisis.

It was assumed that the investor of the confectionery factory would be the Dubki concern, which is engaged in meat processing.  The head of the CCI of the Saratov region, Alexei Antonov, who held the post of a deputy in the regional Duma, tried on the role of an anti-crisis manager.

He urged citizens to buy candies produced by the factory.  It was reported that the company will supply its products to the market of Uzbekistan. However, in the end, the factory failed to cope with financial problems.

The Konsar company is a member of a conglomerate controlled by Vladislav Burov.

 He also controlled the Solnechnye Produkty group of companies, which, as a result of bankruptcy, was taken over by the RusAgro Group of Companies.  The economic pool of Burov also included the NVK bank, which was declared insolvent, and the DIA state corporation discovered signs of the withdrawal of financial assets in the process of its bankruptcy.