Podium Market

History

2022: The court invalidated the sale of stores for 1.7 billion rubles

Moscow arbitration in the framework of the bankruptcy case of the investment and production company (IPC) Atlas, which was previously called Podium Market, invalidated the transaction to sell the business of the Stockmann chain. The relevant court ruling became known in mid-November 2022.

As Vedomosti writes with reference to this document, the value of the transaction was supposed to be 1.69 billion rubles, while previously the amount was never officially named. Most likely, the court considered that it was impossible to return the property purchased by Stockmann, so he instructed to recover from the network the market value of the sold business, Stanislav Valezhnikov, managing partner of the Central District law firm, suggested in a conversation with the newspaper.

The court invalidated the deal on the sale of stores "Podium Market" of the "Stockmann" chain for 1.7 billion rubles

At the same time, judging by the materials of the case, Stockmann got the assets of the Podium Market for only 105.3 million rubles. The court ruling says that the retailer will now be able to receive this money from the Atlas IPC. The Moscow arbitration thus returned both companies to their original state before the deal, explains Oleg Permyakov, partner of the law firm Rustam Kurmaev and Partners.

As part of the deal, it was about clothing and footwear stores "Podium Market" - two points To Moscow in (shopping center "Fashion Season" and "European") and one each in (Kazan BC "Pushkinsky") and in (Krasnodar shopping center "OZ Mall"), which were transferred in 2017 to the "Stockmann" network.

Atlas faced financial problems: the total amount of claims against it by counterparties was more than 1 billion rubles. As a result, Stockmann acquired its trade balances and trading equipment and received the rights to use the domain and trademarks of the Podium Market. In addition, the rights and obligations of the tenant of stores passed to the retailer.^[1]

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