THE WELL-KNOWN CONFECTIONERY HOLDING IS FACING BANKRUPTCY

The Russian financial conglomerate Sberbank is going to send an application for the company's insolvency to the court. Among the reasons for possible bankruptcy are the strong dependence of Glavtorg on loans and disagreements with the supplier and, as a result, a criminal case against the founder of the company.

The distributor appeared in 2011, headed by entrepreneur Karen Nalbadyan. In 2020, the share of Glavtorg in the confectionery market of the capital reached 50%, not taking into account federal networks.

In 2021, the company started taking loans from banks. So, it borrowed over 2.5 billion rubles, while 755 million rubles were taken from Sberbank, and the rest from VTB and Alfa-Bank.

In addition, Glavtorg was unable to win a court case with United Confectioners and recover the debt from them. The criminal case against the CEO and founder of the distributor had a negative impact on the company's position, 76.55 million rubles of penalties were collected from the company.

Photo: Freepik