SBERBANK TOOK OVER THE BANKRUPTCY OF THE CREATOR OF THE "SHOES OF RUSSIA"

Sberbank PJSC joined the insolvency case of Anton Titov (no. A45-30639/2022), who founded a large shoe chain "Shoes of Russia" in Novosibirsk (the legal successor is OR Group). In early September, the arbitration court (AS of the Novosibirsk region) issued its verdict, accepting a bankruptcy claim of a credit institution for 1.3 billion rubles.

Judge Marina Brodskaya considered the application of Sberbank dated August 22, which indicated that Titov had a debt to the bank in the amount of 1.3 billion rubles. Considering that earlier the bankruptcy process of the entrepreneur was initiated by VTB, the court considered Sberbank's claim as a petition to enter into an insolvency case.

The company is the legal successor of an organization established in Siberia. The company's production complex is located in Berdsk and Novosibirsk. At the same time, the main trademark of Westfalika, under which the company produces goods, is known throughout the country.

In 2020, the holding re-registered in the capital, demonstrating a successful financial condition. The profit of the firms belonging to the OR GROUP was about 40 billion rubles. The firm reported net revenue of 7.3 billion. However, after a couple of years, the situation has changed.

In October 2022, Rusbankrot already wrote about the threats of bankruptcy of OR Group, which Fedresurs received shortly after the termination of the government moratorium. Three banking structures (VTB, Sberbank, Promsvyazbank) announced plans to apply to arbitration at that time. Banks were pushed to this step by the default on exchange-traded bonds that occurred in early 2022.

On October 29, VTB applied to arbitration for bankruptcy of the founder of the company, indicating the presence of a debt of 825.7 million rubles. After several appeals against the decision of the primary instance that accepted the claim for consideration, the next hearing of the case was scheduled for October 5, 2023.

In parallel, lawsuits about the insolvency of firms belonging to the shoe holding company poured into the courts.