Zara remains with a billion

The Moscow Arbitration Court terminated the proceedings on the recovery of 1.14 billion rubles from Zara CIS JSC. This information is available on the Court’s website. Zara CIS is a Russian subsidiary of the Spanish holding Inditex (owns the brands Zara, Massimo Dutti, Pull and Bear, Oysho, Bershka, Stradivarius).

The claim for the recovery of funds from the retailer was filed by MBN-Agro LLC. According to SPARK-Interfax, this structure is engaged in the lease and management of its own or leased real estate. Almost 30% of the company belongs to Rustem Mirgalimov, a businessman investing in agribusiness, the rest of the shares are registered to MBN-Agro itself. This company owns retail premises on Neglinnaya Street in the center of Moscow. There is one of the Zara stores. In its lawsuit, MBN-Agro demanded that Zara CIS terminate the lease agreements and pay the penalty.

In March of this year, Inditex temporarily suspended the operation of its brand stores and online sales in Russia due to the impossibility, due to the Russian military special operation in Ukraine, to guarantee the continuation of operational and trading activities in the country. In early June, the company said it had no plans to reopen stores yet.

Alina Savitskaya