vc.ru has quoted Sergei Bakeshin in an article on the possible closure of the Ulmart online store

Sergei Bakeshin - Counsel

The online publication for businesses, startups, innovations, marketing, vc.ru has reported that in the near future the internet retailer Ulmart may cease trading. In 2019, against the background of a constant drop in turnover and revenue, Ulmart owed suppliers more than half a billion roubles. In the winter of 2020, the Commercial Court of St Petersburg and the Leningrad Region declared that the former operating company of the retailer, nonpublic joint stock company Ulmart, and the structure of the company Ulmart RSK, Ulmart PZK and Ulmart Development were insolvent, and also filed for the insolvency of LLC Ulmarket and the current operating company, LLC Ulpleys.

The article from vc.ru is based on Kommersant newspaper reports and expert opinions, including Sergei Bakeshin’s, the Head of the Dispute Resolution and Insolvency practice at Maxima Legal, who said that if the retailer had funds to pay off debts, he would not have filed for insolvency.

To read the full article (in Russian), please see vc.ru >>>