Owner of PickPoint delivery service files for bankruptcy

Network of Automated Delivery Points LLC, which owns the PickPoint delivery service, filed a bankruptcy lawsuit with the Moscow Arbitration Court. The corresponding application was filed on April 21, the hearing on the case has not yet been scheduled.

PickPoint manages 6,000 parcel terminals and 4,500 pickup points in 657 Russian cities. The company had difficulties with work in the Russian Federation last year. According to SPARK-Interfax, in 2022, claims were filed against her for 327 million rubles. A PickPoint shareholder is a foreign legal entity that is having problems financing a business in Russia due to sanctions, a company representative explained at the time. According to him, the service expected to carry out a business restructuring that would allow it to continue working in Russia.

But in early April, the CEO of PickPoint, Nadezhda Romanova, sent out a letter to her counterparties, in which she announced that the operator was ceasing its activities, the Kommersant newspaper wrote. She explained this decision by the departure of Western retailers, which led to a decrease in the company’s turnover. In addition, “funding from Western investors has become impossible.”