Genser

Genser — one of the largest car dealers in Russia, includes for 2018 about 45 dealer centers in the country.

On the beginning of 2018 a controlling stake of the company at the chairman of the board of directors Vladimir Pronin and successors of its founder Igor Ponomarev, interlocutors of Vedomosti told.

2018: Bankruptcy waiting

In March, 2018 it became known that after bankrupt Independence one more largest car dealer — Genser can be closed. Last year's debt restructuring on 12 billion rubles did not help: creditor banks began to threaten with bankruptcy, and a number of brands terminated or is going to terminate agreements with Genser. According to sources of the Kommersant newspaper, concerns hurry to close the obligations prior to the beginning of possible bankruptcy of Genser.

According to the source Kommersant, problems at Genser arose as General Motors was its main brands (left the market in 2015) and Nissan (this brand became, according to the source Kommersant, low-profit). Then the dealer invested more than 1 billion rubles in the Audi center that the source of Kommersant calls a managerial error too^[1].

Problem Genser Group terminates contracts with several carmakers at once. So, in Ford Sollers 'Ü' told that the agreement with this dealer stops working under the mutual agreement of the parties. Within a month the centers will issue the Ford cars to clients under earlier signed contracts and to fulfill service obligations though the brand does not fix cases of violation of contractual commitments from Genser.

In Nissan told that the dealer contract with Genser works, but on the Datsun brand work is stopped at the initiative of the dealer three weeks ago.

In Volvo say that monitor the events in Genser, now the dealer center of a brand operates normally though in terms of Volvo sales volume it "the smallest player in Moscow".

In November stopped cooperation with Genser Renault. The source of Kommersant in one of the carmakers working with Genser noted that a question on the dealer "in a discussion stage": one dealer center most likely will be closed in the nearest future, another "remains so far". At the same time, according to other interlocutor of Kommersant in the market, in January, 2018 Genser sales almost on all brands were piece or at all zero.

Audi, according to Kommersant, stopped cooperation with Genser since March 1, 2018 "by agreement of the parties". In other brands and in Genser did not comment on a situation yet.

One of sources of Kommersant among car makers told that "leave" Genser without problems: the seller "tries to close all obligations", and the carmaker in turn expects to fulfill the obligations to clients "to the declaration of bankruptcy of the dealer if like that is, and freezings of our transactions". The interlocutor also told that there were Genser customer appeals on a hot line concerning delays of issue of PTS, but the dealer resolved an issue itself (mass addresses were not). Also the source of Kommersant reported that on service new machines do not take in Genser any more, by the end of March the dealer will close all current warranty obligations, other clients will be redirected to other official dealers.

According to one of sources of Kommersant, Genser debt to banks — about 12 billion rubles, on operating activities to it are required to 1.5-1.7 more billion rubles now.

The source of Kommersant tells that the dealer the last half a year hoped to agree with Sberbank, but "probably, did not agree". Other interlocutor of Kommersant noted that Sberbank restructured the debt on a payment term of percent, "with what aggravated" a debt hole of Genser.

"The dealer cannot receive there is no more no kopek of the credit, and funds for conducting operating activities" — he claims.

In March, 2018 it became known that MKB and "The Russian capital" are going to submit applications for recognition by bankrupts of structures of the dealer (so far in a card file of arbitration cases claims for bankruptcy do not appear). In banks do not comment on a situation yet, Sberbank refused comments. At the same time, according to one of interlocutors of Kommersant, Sberbank can initiate insolvency proceeding of the dealer.

Other source of Kommersant tells: in the market are sure that "on the dealer centers Genser which remained in property (rented already returned), Sberbank is going to do business, perhaps, with Rolf" (there did not comment on a situation). At the same time the head of Favorit Motors Vladimir Popov told Kommersant that he was interested in "some objects" of Genser, but as it appeared, now banks refuse to select them in the general structure.

2017: Debt restructuring of 12 billion rub till 2024, Sberbank receives 10% of the company

According to Vedomosti, the restructured debt in September, 2017 was prolonged till 2024, and Sberbank (the main creditor) received a share in the company — about 10% — as pledge before obligation fulfillment on the credit. Also VTB, the Sviaz-Bank (enters into group of VEB), Soyuz bank, the Moscow Credit Bank (MCB), "The Russian capital" took part in restructuring. Sberbank claimed that parameters of restructuring meant "comfortable conditions of further debt servicing and allow to perform stable operating activities".

2011: Network of salons in Moscow, Moscow region, Kaluga, Nizhny Novgorod and in Belogoroda

For 2011 the Genser group owns network of car centers in Moscow and the Moscow region, in Kaluga, Nizhny Novgorod and Belgorod.

2007: Investments of Volga River One Capital Partners

In 2006 implementation of the large-scale program for expansion of network in regions was begun, and in 2007 the group attracted the strategic investor – a private equity fund of Volga River One Capital Partners.

Notes