The owner of Domino’s Pizza in Russia launched bankruptcy proceedings
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The Dutch company DP Eurasia, the owner of the Domino’s Pizza master franchise in Turkey, Russia, Azerbaijan and Georgia, has decided to initiate bankruptcy proceedings against the Russian business of DP Russia. About it reported in the press office of the company.
DP Eurasia explained that this decision was made against the backdrop of “increasingly difficult conditions.” After the completion of the bankruptcy procedure, the company will cease to be present in Russia. DP Russia also noted that the unit’s external debt of 520 million rubles. was fully repaid by the Turkish subsidiary from available cash
The bankruptcy procedure was preceded by the company’s attempts to sell its business in Russia. About them DP Eurasia reported December 28, 2022 The company noted at the time that work was underway on a potential deal to sell Russian assets, but “one cannot be sure” of its outcome.
In March, DP Eurasia announced the refusal of royalties and investments in the Russian Federation due to a special operation in Ukraine. The first branch of Domino’s Pizza in Russia was opened in 1998. Now the network has about 170 restaurants throughout the country.
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