Svyaznoy intends to launch bankruptcy proceedings — the company has multibillion-dollar debts

Set Svyaznoy LLC intends to apply to the Moscow Arbitration Court with a statement of its own bankruptcy, Interfax reports. The retailer’s largest creditors are Sovcombank, Alfa-Bank, Merlion LLC, RB Factoring LLC and Vimpelcom. Sovcombank has already announced its intention to initiate the bankruptcy of Svyaznoy in October 2022, and in January 2023, Trade and Exhibition Complex Aviapark JSC announced the same plans.