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74 countries are at risk of bankruptcy due to the pandemic

The World Bank warns of the possibility of defaults of the poorest countries of the world due to debts that arose against the background of the pandemic. In 2022, payments on loans and credits taken by a group of 74 states from international financial organizations and individuals will amount to about $35 billion. This is 45% more than they paid last year. Experts attribute the growth in loan repayments (by more than $10.9 billion) to the refusal of many states from the financial assistance from...

Children's leisure in Dagestan is under the threat of bankruptcy

The day before, the head of the Makhachkala ‘Association of Children's Clubs’ Tagir Chavtarov applied to the authorities of the republic. According to the businessman, the restrictions imposed by the leadership of Dagestan on the work of organizations in the area of children's leisure will lead to the ruin and bankruptcy of the business in the near future. Despite the fact that entertainment establishments and cafes in Dagestan were given the opportunity to work from October 28, children's clubs...

47% of road construction companies may go bankrupt

At the request of the National Association of Infrastructure Companies (NAIC), the specialists of the HSE conducted a survey on the road construction market and came to a disappointing conclusion. According to the data received, up to 47% of the largest enterprises in the industry (94 organizations out of 200) run the risk of becoming insolvent in the nearest future. The reasons for the bankruptcy were the increase in the cost of building materials and the problems caused by the peculiarities...

Russian pharmaceutical market has lost 3% of pharmacies

About 2 thousand Russian pharmacies ceased to exist between June and September 2021. At the same time, the negative trend affected, first of all, representatives of small and medium-sized businesses. About 44% of all closed pharmacies are single enterprises. But the chains, operating in several regions of Russia at once, managed to expand their market presence by 6% (up to 8668 outlets) by autumn. Corresponding data are given by ‘Izvestia’ and based on the results of the work of the DSM Group...

Will Rusnano file for bankruptcy ?

On November 19, Rusnano announced its debt obligations for 150 billion rubles. Shortly before that, the regulator temporarily suspended trading the company's bonds on the Moscow Stock Exchange. Now the experts are discussing whether Rusnano will face a default, but how the possible bankruptcy of a state corporation may affect the economic situation in the Russian Federation? Expert Marat Bashirov in his personal telegram channel calls Rusnano a virtual bankrupt. According to the political scientist...

UK TOUR OPERATORS FACE WAVE OF BANKRUPTCIES

Several companies in the UK have announced their withdrawal from the Travel Trust association. This organization monitors and controls whether the travel companies comply with the regulations established in the United Kingdom. Truly Travel, known under the Teletext Holidays trademark, announced that from October 29 it would terminate its membership in the profile association, and that bookings would be transferred to TTA Travel, which has the necessary ATOL license (Air Travel Organiser's License...

THE 'SKYTHIAN' HANDBALL CLUB IS ON THE VERGE OF LIQUIDATION

The ‘Skythian’ sports club from Krasnodar, which has existed since 1963, found itself in a difficult financial situation. The leadership of the organization was forced to send a message to the RFH (Russian Federation of Handball) and personally to its president, Sergei Shishkarev, asking for financial assistance. Otherwise, said the head Yuri Sadovsky, the club could face liquidation. According to the ‘Mutko is Against’ Telegram channel, the club's debts for mandatory payments to the state treasury...

Legendary Italian airline Alitalia operates its final flight

Coronavirus infection had literally ‘killed’ Alitalia airline company. It became known that on October 14, the flight from Cagliari to Rome will be the last in the 75-year history of the air carrier. The reason for the liquidation of the aviation enterprise is bankruptcy. From Friday, flights will be operated by another company (ITA, Italia Trasporto Aereo), in which some of Alitalia's employees will work. Losses have plagued the company since 1999. The state authorities, apparently, are tired...

Cafes and shops of Moscow began to shut down 1.5 times more often

The sector of public catering of the capital, suffering losses against the backdrop of the pandemic, was not ready to work under the conditions of restrictions. A significant part of the establishments has been closed down, clearing up the trading floors for new tenants. The drop in revenue had a particularly noticeable effect on the enterprises operating in the center of Moscow. According to data provided by the Colliers consulting company, the number of stores and food service establishments...

Philippine Airlines files for bankruptcy protection in US

The creditors have agreed to ‘forgive’ a $ 2 billion (100 billion Philippine francs) debt to the only airline in the Philippines having an IOSA certificate. PAL's chief financial officer, Nilo Thaddeus Rodriguez, said the company would make every effort to complete the restructuring on its own. At the same time, the results of its holding will depend on how quickly the world tourism business begins to recover. Many countries are still closed due to the coronavirus infection. The head of the carrier...

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