Paolo Conte
Since 2001
Russia
Central Federal District of the Russian Federation
Moscow
Ochakovskoye highway, d. 28
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History
2022: Sber goes bankrupt Paolo Conte shoe chain due to debt of 1 billion rubles
On February 11, 2022 Sber submitted to Arbitration court of Moscow the application with a request to declare bankrupt shoe retailer Paolo Conte (LLC Paolo Konte) because of his big debts before credit institution. Relevant information appeared in the file cabinet of arbitration cases.
 | The serious financial difficulties of the company, the pandemic, as well as other significant circumstances did not allow to restructure the debt. As a result, in order to ensure the maximum repayment of the debt, the bank was forced to apply for bankruptcy of the borrower, the Sber press service said. |  |
They indicated that Paolo Conte's debt to the bank exceeds 1 billion rubles.
Earlier in February 2022, Kommersant wrote about lawsuits against other Paolo Conte structures. Journalists found in the database of the Federal Resource applications of Sber for bankruptcy of Paolo Konte Shuz LLC and Paolo Konte Trade LLC.
In addition, the owner of the Perm shopping center "Family" is suing Paolo Conte. He wants to recover 485.4 million rubles from the shoe seller. A source familiar with the situation said that Paolo Conte owed this money for rent.
Paolo Conte's financial problems began after the death of the company's founder Andrei Rotar in October 2021, Kommersant wrote citing sources in the commercial real estate market. According to them, the company had difficulties in negotiating with creditors who insisted on repaying debts. The company also could not pay rent and make purchases and was forced to close part of the stores, the newspaper noted.
According to Mikhail Burmistrov, head of Infoline Analytics, almost all networks in the fashion segment with revenues of up to 4 billion rubles, with the exception of a few strong players in their niches, are under pressure from rising costs, declining traffic and increased competition. According to him, the segment is actively moving online.[1][2]
Notes
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