RusBankrot
We know everything about bankruptcy
24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
The court terminated bankruptcy of Burger King in Russia
Burger King catering chain, represented in Russia by the Burger Rus company, managed to terminate the bankruptcy proceedings. It had been earlier initiated by the ‘Themis’ company. The reason for the claim was lease arrears in the Krasnoprudny shopping center.
It turned out that the company with billions of dollars in turnover has accumulated debts to partners. Over the past couple of years, more than 160 claims have been filed against the company, the majority of which are claims from landlords. The total amount of claims in them is about 130 million rubles.
As a result, the ‘Themis’, which owned the rented premises at Kozhevnicheskaya 10 in Moscow, applied to the arbitration court with a bankruptcy petition and claims for 5.8 million rubles. It was supported by the Moscow Arbitration Court, and then by the Court of Appeal, which on May 28 did not accept the complaint of the Burger Rus and issued an order to collect the rent for December 2019 - May 2020 in force. What’s more, the appeal recovered 450 thousand rubles from the company as a penalty.
As a result, the case ended with 14 million rubles of debt collected from the company. The court had no need to launch the bankruptcy proceedings. However, none of the experts expected the company to go bankrupt. Despite the difficult situation in the industry, Burger King owns 700 establishments in Russia, and the company's total revenue for 2020 exceeded 35 billion rubles.
However, the company is going through hard times - last year turned out to be unprofitable for the restaurant chain. After paying the necessary tax and insurance payments, the company incurred losses of 5 billion rubles.
It turned out that the company with billions of dollars in turnover has accumulated debts to partners. Over the past couple of years, more than 160 claims have been filed against the company, the majority of which are claims from landlords. The total amount of claims in them is about 130 million rubles.
The reason was non-payments, which the management of the Burger Rus justified by restrictive measures due to the pandemic.
The Burger King franchisee failed to agree on a rental vacation with the owners of the premises.As a result, the ‘Themis’, which owned the rented premises at Kozhevnicheskaya 10 in Moscow, applied to the arbitration court with a bankruptcy petition and claims for 5.8 million rubles. It was supported by the Moscow Arbitration Court, and then by the Court of Appeal, which on May 28 did not accept the complaint of the Burger Rus and issued an order to collect the rent for December 2019 - May 2020 in force. What’s more, the appeal recovered 450 thousand rubles from the company as a penalty.
The judges, making a decision regarding the Russian Burger King, relied on the fact that the chain did not stop its activities during the period of anti-epidemic measures.
According to the agreement, the company was obliged to pay monthly 10% of its turnover. The minimum payment was 1.6 million rubles. However, the money were not transferred from July 1, 2019 to February 20, 2020, as reported by the initiators of the bankruptcy.As a result, the case ended with 14 million rubles of debt collected from the company. The court had no need to launch the bankruptcy proceedings. However, none of the experts expected the company to go bankrupt. Despite the difficult situation in the industry, Burger King owns 700 establishments in Russia, and the company's total revenue for 2020 exceeded 35 billion rubles.
However, the company is going through hard times - last year turned out to be unprofitable for the restaurant chain. After paying the necessary tax and insurance payments, the company incurred losses of 5 billion rubles.
The company's liabilities exceeded the total value of its assets by $ 3.8 billion.
Burger Rus LLC is owned by the Cypriot company Burger King Russia, the 30% share of which is owned by the Gladerom Investment, and more than 35% by Xomeric Holdings. Experts connect both Cypriot companies with the Ukrainian ICU group and the Russian businessman Alexander Kolobov, who owns Shokoladnitsa coffee shops. Almost 20% is owned by VTB Bank and 15% by the North American firm Restaurant Brands International. 01.10.2021
