THE NETWORK OF GOODS FOR SPORTS "THE HIGHEST LEAGUE" WAS DECLARED BANKRUPT

SSM "Higher League", a legal entity of the sports goods trading network, has received the status of bankrupt. The decision on this was made by the Krasnodar arbitration court on April 28, 2023. The initiator of the bankruptcy was the "daughter" of the ASICS brand in the Russian Federation. In June 2021, she demanded 14.5 million.

After the arbitration accepted the claim, the parties agreed to conclude a settlement agreement. However, a few months later, Fortis filed a motion to cancel the agreement due to new circumstances. She submitted the relevant information to the court. The case was given a new course, but with creditors' claims in the amount of 157.8 million rubles, Kommersant writes.

In 2020, the "Higher League" earned only 25.93 million rubles with a net loss of more than 100 million. During the pandemic, the organization was forced to stop working. According to the results of 2022, losses amounted to 20.6 million, and revenue – only 1.1 million.

The organization has worked in the capital of Kuban for more than two decades. Officially, the company began its activity in 2002, engaged in wholesale of sporting goods (including bicycles). At the same time, over the past ten years, the company has managed to open about 70 outlets not only in the Kuban, but also outside the region. The network sold products of the world's leading brands.

Alexey Pshenichny, the sole beneficiary of the retailer, told reporters that the main reason for the bankruptcy was a lockdown during the pandemic. It caused a serious drop in demand for sports products. The bank lending to the enterprise (presumably, it was Pervomaisky) lost its license, and borrowed funds had to be urgently returned.

At the moment, the company has entered bankruptcy proceedings. Until July 7, applications from creditors will be accepted to include their claims in the register. According to Pshenichny RBC, the bankrupt legal entity currently has no connection with a chain of retail stores and ceased its activities four years ago.

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