PICKPOINT DELIVERY SERVICE HAS BEEN PLACED UNDER SURVEILLANCE

The decision to introduce a monitoring procedure in relation to the legal entity that managed the logistics service was made by the metropolitan Arbitration Court on July 3, 2023 (case A40-90234/23). Information about this appeared in the court file, although the operative part of the document has not yet been published. The amount of debt owed by the "Network of Automated Issuing Points" (the official name of the LLC) to creditors remains unknown for the time being.

In April, Rusbankrot wrote that the company had stopped working. The firm, which manages a network of post offices and issuing points, has accumulated multimillion-dollar obligations. In 2023, the total amount of financial requirements to the company reached 730 million rubles. As a result, the network, represented in 657 Russian cities and towns, announced its closure.

At the same time, it became known that PickPoint decided to initiate its own bankruptcy. Despite the growth in the number of orders observed in the B2C market, the company in 2022 began to lose to marketplaces that took over the functions of delivery services. The network has been generating losses for the past few years. In 2021, the net loss amounted to 235.6 million rubles, and a year later – 351.3 million rubles.

One of the reasons for the closure of the company, experts call the departure of foreign companies engaged in retail from the Russian Federation. They made up a significant part of the PickPoint customer base. The founder of the service (PickPoint Delivery System Ltd.), registered in Cyprus, was also unable to continue financing the business.

On April 21, 2023, the Moscow Arbitration Court received a bankruptcy application from the company (case no. A40-90234/2023). A few months later, the court found the claim justified and introduced a surveillance procedure. Among the creditors of the company are Petmarket, Sigma, Caprice, LogLab Fulfillment, Y.S. Brothers and others.

Currently, the metropolitan arbitration continues to consider the claim filed against the defendant by Sovcombank. If the application of the credit institution is satisfied, a claim for almost 218 million rubles may appear in the register. The court plans to consider this case (no. A40-76870/2023) on August 1.