“Svyaznoy” is entangled in debt // The retailer is preparing to initiate its own bankruptcy
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The network of electronics stores Svyaznoy may initiate its own bankruptcy. The retailer’s total debts to creditors, including Alfa-Bank, Sovcombank, electronics distributor Merlion, VimpelCom, Citilink and others, amount to about 15 billion rubles. Kommersant’s sources say that the company’s management hopes for restructuring and is looking for a new investor. Market participants specify that the network continues to purchase and conducts commercial activities.
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