BANKRUPTCY WITH A "SPARK": THE TOY FACTORY WAS TAKEN UNDER SURVEILLANCE

The Moscow Arbitration court satisfied the claim of the Rubicon Estate company by introducing bankruptcy proceedings against the Ogonek plant. The company, located in East Biryulev, was taken under surveillance. The company's debt to the plaintiff is 9 million rubles. Among the creditors of the company also appear "Donskoy Plant of radio components" and the metropolitan Department of City Property.

According to Vedomosti, the toy factory was one of the oldest enterprises in the capital, created on the basis of the Vozrozhdenie artel. In the 1960s of the last century, the company produced over 500 types of toys (mainly made of plastic). In recent years, the factory has produced dolls popular among children ("Angelik", "Zlat", "Mashenek"), analogues of the American Barbie doll.

In 2016, entrepreneur Denis Zhivtsov became the beneficiary of the company. At that moment, the company brought stable revenue and worked with profit. However, in 2020, the plant was on the verge of ruin. The bank "Solidarity" presented the company with an invoice for 435.7 million rubles. According to experts, the value of the organization's assets at the moment is minus 795 million. The plant finished last year with losses of 379 million (with revenue of 127 million).

Experts believe that the possible recognition of the plant as bankrupt may be of great interest to Moscow developers. The Moscow Post suggests that Red Development, owned by Alexey Kovalchuk, may be interested in the plant's land real estate. In the past, as the journalists of the publication note, the business of Kovalchuk and Zhivtsov could be linked by partnerships.

One of the co-founders of the company "Mtok", owned by Zhivtsov, in 2016 was the Altair Group FPC. In 2017, this structure bought out part of Red Development's debt to the bank, which saved Kovalchuk's construction business from the need for bankruptcy.

The location of the Ogonek plant, experts believe, is not very suitable for the construction of business buildings and offices on this territory. The construction of luxury housing is not favored by the presence of a significant number of industrial zones in the area. However, the situation is very unstable and the landscape of the development of the area can change greatly.

Photo by Freepik