Sberbank began to drive Paolo Conte shoe store chain to bankruptcy

The Moscow Arbitration Court received a claim to declare the bankruptcy of Paolo Conte LLC. It is known that the shoe company owes Sberbank more than 1 billion rubles.

Earlier, Rusbankrot reported that the problems of the Paolo Conte chain began after the death of its founder Andrey Rotar in October 2021. After that, the company's creditors began to demand their funds, and there were problems with the rent of premises, as well as with the purchases. As a result, some stores of the network had to close.

According to Forbes, Paolo Conte owes Sberbank over 1 billion rubles. The debt could not be restructured due to the financial problems of the shoe store chain, as well as due to the pandemic.

As a result, in order to pay the debts, the bank filed for bankruptcy in court.

Andrey Rotar founded the company in 2001. Paolo Conte has established itself on the market and has been successful for 20 years, with 81 stores opened. The company also organized a franchise. In 2020, revenue reached 1.8 billion rubles, net profit - 9.1 million rubles.

Paolo Conte had a functioning website, however it is currently not operating. We should recall that a week earlier, another specialized company ‘Obuv Rossii’ made a technical default on bonds for 594 million rubles. The company produces goods under the brands Westfalika, Rossita, Lisette, Emilia Estra and Pedestrian.