RusBankrot
We know everything about bankruptcy
19/12/2025
Friday
THIS DAY IN HISTORY:
19 December 
1970 The last Order of the Red Star was issued.
1970 The T-34 tank was adopted by the Soviet Defense Committee.
1970 the T-34 tank was adopted by the Soviet Defense Committee.
1970 Frederick Walton patented linoleum.
1970 Frederick Walton patented linoleum.
19 December
1970 The last Order of the Red Star was issued.
1970 The T-34 tank was adopted by the Soviet Defense Committee.
1970 the T-34 tank was adopted by the Soviet Defense Committee.
1970 Frederick Walton patented linoleum.
1970 Frederick Walton patented linoleum.
THE MULTI-YEAR BANKRUPTCY CASE OF A LARGE SIBERIAN RETAILER HAS BEEN CLOSED
In Novosibirsk, the Arbitration Court (AS NSO) has completed a lengthy review of one of the most notable insolvency cases in the field of Russian trade. The court's decision ended the bankruptcy proceedings and approved the liquidation of Holiday Company LLC. This happened despite the fact that the company's colossal financial obligations remained largely outstanding.
Founded in 2000 by local entrepreneur Nikolai Skorokhodov and his partners, the Holiday Group remained in the position of the leading retail chain in Siberia for a long time. According to open data, the revenue of its key legal entity in 2016 was approaching 59 billion rubles. However, in May 2017, at the request of individual entrepreneur Alexander Karev, bankruptcy proceedings were launched, which lasted almost nine years.
The financial collapse of the company turned out to be massive. At the time of the registry's closure in May 2019, the total amount owed exceeded 20 billion rubles. Of the collateral, estimated at 15.3 billion, only 4.2 billion were returned to creditors during bankruptcy proceedings. As a result, as noted in the judicial act, the outstanding amount of claims amounted to over 16.5 billion.
A particular public outcry in this case was caused by the bankruptcy trustee's activity in challenging the company's previous payments to suppliers. The courts began to recognize as questionable transactions that were made for the goods already received. This situation has provoked serious concern in the business environment. Manufacturers and suppliers from many regions of the country, including Siberia, Altai Krai, Moscow and St. Petersburg, have stated the risks of a chain reaction of insolvency. They joined forces, involving business ombudsmen and federal authorities in the problem.
The creditors also tried to impose subsidiary liability on the founder of the network, Nikolai Skorokhodov, and individuals and organizations affiliated with him. However, in February 2021, the arbitration court refused to satisfy these requirements.
The bankruptcy creditor of Zvezda LLC also disagreed with the results of the procedure, challenging the actions of the manager and insisting on continuing production due to the remaining debt. The Court did not find these arguments to be sound. Now the case materials will be transferred to the tax authorities for the final liquidation of the legal entity.
Founded in 2000 by local entrepreneur Nikolai Skorokhodov and his partners, the Holiday Group remained in the position of the leading retail chain in Siberia for a long time. According to open data, the revenue of its key legal entity in 2016 was approaching 59 billion rubles. However, in May 2017, at the request of individual entrepreneur Alexander Karev, bankruptcy proceedings were launched, which lasted almost nine years.
The financial collapse of the company turned out to be massive. At the time of the registry's closure in May 2019, the total amount owed exceeded 20 billion rubles. Of the collateral, estimated at 15.3 billion, only 4.2 billion were returned to creditors during bankruptcy proceedings. As a result, as noted in the judicial act, the outstanding amount of claims amounted to over 16.5 billion.
A particular public outcry in this case was caused by the bankruptcy trustee's activity in challenging the company's previous payments to suppliers. The courts began to recognize as questionable transactions that were made for the goods already received. This situation has provoked serious concern in the business environment. Manufacturers and suppliers from many regions of the country, including Siberia, Altai Krai, Moscow and St. Petersburg, have stated the risks of a chain reaction of insolvency. They joined forces, involving business ombudsmen and federal authorities in the problem.
The creditors also tried to impose subsidiary liability on the founder of the network, Nikolai Skorokhodov, and individuals and organizations affiliated with him. However, in February 2021, the arbitration court refused to satisfy these requirements.
The bankruptcy creditor of Zvezda LLC also disagreed with the results of the procedure, challenging the actions of the manager and insisting on continuing production due to the remaining debt. The Court did not find these arguments to be sound. Now the case materials will be transferred to the tax authorities for the final liquidation of the legal entity.
18.12.2025
