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One of the major players in the Russian dessert market, the Altai manufacturer Russkiy Kholod, has been threatened by a series of insolvency proceedings. The reason for the collapse was a serious debt burden, due to which the group has already stopped shipping goods to key counterparties. At the same time, investors are eyeing the company's assets as a potential investment target.
The reason for concern was the notifications that appeared a week ago on the Fedresource. According to them, IFC Fordevind announced plans to start bankruptcy proceedings against four companies that are part of the group. Russian Russian Cold and Russian Cold joint-stock companies, Altaykholod and Laguna Coal companies were included in the list. The companies have so far refrained from providing operational explanations.
The financial situation in the group has been difficult throughout 2025. According to the final data, the total debts of the four main structures exceeded 12.5 billion rubles. Paradoxically, their total revenue increased by 18.5% over the same period and reached 16.1 billion.
The holding company traces its history back to 2005. It is known to consumers due to the popularity of trademarks ("Lakomka", "USSR", etc.). According to the reporting for 2024, the beneficiaries of the group of companies were Anton Terentyev and Andrey Sitnikov. But the current information about the real owners has not been made public.
Despite the growth of financial indicators, the organization showed a negative trend. In 2025, the plant took only the tenth place in the rating of Russian ice cream makers (Soyuzmolok data). The volume of output decreased by a quarter, amounting to about 15 thousand tons. At the same time, the reduction in the market as a whole turned out to be much more modest (7.5%) with a total production volume of 517 thousand tons.
The current period also began with difficulties. On May 1, the company stopped deliveries to the most important contractors and began an internal audit. Against this background, information appeared about the desire of the A1 investment company to combine the manufacturer's debts in order to gain control of the business. At that time, it was planned to invest about 1.5 billion in financial recovery.
According to lawyers, such bankruptcy lawsuits are not always a direct penalty. This mechanism often serves as a lever of pressure on the debtor. The first plaintiff acquires special rights. In particular, he is able to propose his candidacy as a manager, which affects the course of the procedure.
The crisis of the "Russian Cold" coincided with the general cooling of the market. Natural ice cream sales increased by only 1% last year. In the first months of 2026, production dropped by 17.1%. Experts blame this on bad weather conditions and a drop in turnover in the restaurant business.
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