STOCKMANN IS THREATENED WITH BANKRUPTCY

Creditors of Podium Market continue to try to get 1.69 billion rubles from the Stockmann network. The basis was the decision of the capital arbitration in November 2022. The court annulled the transaction on the alienation of the rights to trademarks and stores acquired by it from IPK Atlas (legal entity Podium Market).

On June 7, information about the plans to collect the creditors' committee was published by the bankruptcy trustee (CU) of IPK Atlas, Vladimir Sakharov. He believes that the way to forcibly recover Stockmann's debt may be to apply to arbitration with a claim for bankruptcy of the company. The committee to resolve this issue is scheduled to meet on June 23, 2023.

Among the creditors of Atlas, the largest are Landor and Absolut Bank. The amount of debt obligations of IPK Atlas to LLC Landor is about 873.5 million. According to lawyer Yevgeny Kryukov, who represents the interests of the organization (they are cited by RBC), the amount of debt exceeds 1 billion.

Stockmann JSC considers Sakharov's publication to be an attempt to psychologically put pressure on the company. All this is happening against the background of ongoing litigation. The November verdict of the Moscow arbitration court on the recovery of a large sum has not yet entered into force. The company does not abandon attempts to appeal against it in the appeal, the requirement to declare the company insolvent is premature.

Recall that the Stockmann network has been owned by entrepreneur Yakov Panchenko through Reviva Holdings since 2015. The company has 16 outlets in various cities of Russia, including both capitals. The company's revenue in 2022 increased by 13.7%, amounting to 9.6 billion rubles. The company's profit for the last year amounted to 533.3 million (increased almost 6 times compared to 2021).

In the fall of 2022, Panchenko signed a deal with Global Fashion Group (GFG) from Singapore, buying Lamoda online store from her. The deal was closed in December. The contract amount was €95 million and the payment of funds in circulation by October 2022.

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