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ST. PETERSBURG RETAILER 220 VOLT IS ON THE VERGE OF BANKRUPTCY

This is evidenced by the information in the file of arbitration cases, according to which the main company of the holding company LLC Trading House North-West applied to the court for its own bankruptcy. The St. Petersburg franchise chain of electric tool stores may become bankrupt due to numerous lawsuits. At the moment, the amount of claims against the debtor is more than 2.2 billion rubles. The retailer's problems began this year, when more than 200 lawsuits were filed against the holding companies at a price of over 1.5 billion rubles. These problems are connected, apparently, with anti-Russian sanctions, which caused difficulties with the ...

US RETAILERS BREAK BANKRUPTCY RECORDS

MarketWatch, an online media specializing in financial issues, has released data on the record number of bankruptcies that marked the outgoing year 2020 in the United States. According to the media, the number of retail companies filing for bankruptcy this year has exceeded the figures of the last ten years. At the same time, experts believe that it is not worth hoping for an improvement in the situation in the nearest future. Since the global financial crisis in 2008-2009, the market ...

April Fools' lawsuits: why the Musatovs made a decision to drive the subsidiary of Auchan to bankruptcy

... companies Auchan Retail, owned by the Mullier family. Represented in 17 countries, the company has been operating in Russia since August 28, 2002 and, according to the statement made earlier, is not going anywhere. At the end of 2015, AUCHAN united four retail formats, including Atak supermarkets. The Atak company in 2020 received the revenue of 52 billion rubles, but the year turned out to be unprofitable - 2.9 billion rubles were missing. According to experts, the initiators of bankruptcy are Svetlana, Inna and Alexander Musatov. Individuals became creditors of the company as a result of the assignment agreement, having acquired the right to claim for 150 million rubles of debt. Moreover, the obligation itself arose in connection ...

Escada has filed for bankruptcy of its US subsidiary

A well-known brand of women's clothing and perfumery from Germany appealed to the court of America, having taken the advantage of the provisions of Chapter 11 of the Bankruptcy Code, and declared the insolvency of its North American branch Escada America. The reason for the bankruptcy of the company was a pandemic and difficult negotiations with landlords to reduce rental payments. It is noted that during the process ...

THE OWNER OF JESSICA SIMPSON BRAND DECLARES BANKRUPTCY

Sequential Brands Group, a North American fashion brand, has filed a lawsuit in Delaware to protect itself from bankruptcy. The reason was the coronavirus pandemic, which led to a fundamental change in consumer habits, a decline in retail and a reorientation to internet marketing. All the mentioned factors negatively affected the state of the garment industry. Sequential Brands Group is the parent company of the yoga brand Gaiam. Sequential Brands is the owner and licensor of the ...

ADLER FASHION CHAIN FILES FOR BANKRUPTCY

... which was introduced in Austria in mid-December, has led to the bankruptcy of a famous clothing chain - Adler reported filing bankruptcy petition in the district court. It is assumed that the organization will face restructuring under the supervision of ... ... drop in sales that coincided with the period of Christmas holidays. Almost all 24 branches were closed and due to this fact the retailer turned out to be practically insolvent. In total, Adler employs more than 3.35 thousand employees that work in 171 stores....

+1 MARKETPLACE. MAGNIT BUYS KAZANEXPRESS ONLINE STORE

... to create its own online trading platform "Magnet-Market". The value of the transaction is currently unknown. KazanExpess is on the list of the 30 most expensive Russian Internet companies, according to Forbes. A message appeared on the retailer's website that Magnit had come to an agreement with Kazan Express to purchase 100% of the latter. The trading network will progressively outbid the shares of all co-owners. On the basis of the company being bought out, Magnit will create its ...

Experts predict liquidation of 20% of clothing stores in Russia

... Instead of a trend to have a large wardrobe, which was actively shaped by advertising in the recent past, citizens increasingly began to pay attention to the environment and buy more durable clothes. This may lead to a gradual reduction of one fifth of retail outlets, say the experts. Bazhenov associates the change in the clothing market not only with the current situation, but also with the change in fashion trends. More and more brands are beginning to take a more responsible attitude towards environmental ...

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