OJSC Spartak Shoe Factory Initiated Bankruptcy
Spartak shoe factory declared bankrupt
The Spartak Shoe Factory OJSC (Kazan), affiliated with the Tatfondbank, having problems, as part of the disclosure requirements, published the decision adopted by the Board of Directors on December 23 to appeal to the Arbitration Court of Tatarstan with an insolvency statement. The decision is explained by the inability to service loans and pay salaries and severance pay to staff due to the blocking of accounts in Tatfondbank, Kommersant writes.
In particular, the company’s official statement states: “In connection with the introduction of Tatfondbank PJSC 15.12.2016 of the moratorium on satisfying creditors' claims and blocking the movement of accounts, as well as the maturity of December 29 on December 2016 of the term of interest on existing loan agreements of Spartak Shoe Factory OJSC ”, The company will be unable to repay the debt due to a lack of funds, which will make it impossible to pay all creditors, foreclosure of property and stopping the company’s activities.
Also, in this regard, the factory “will not be able to fulfill monetary obligations, requirements for the payment of severance pay and wages of persons working or working under an employment contract, and obligations to pay mandatory payments on time”.
In 2015, the Spartak factory shipped 255,1 thousand pairs of shoes worth 377,6 million rubles. According to the results of 2016, the company expected to issue more than 300 thousand pairs worth more than 550 million rubles. The company’s declared revenue for the 2015 year amounted to 444,15 million rubles, net profit - 289 thousand rubles.
For the 9 months of the 2016 year, the factory received 441,4 million rubles. revenue and 403 thousand rubles net profit. The company's assets at 30 of September this year amounted to 4,8 billion rubles. Borrowed funds under short-term obligations at the same date - 2,6 billion rubles., Long-term - 10,5 million rubles. According to the reporting, Tatfondbank is the main creditor of the company.
At the beginning of November of this year, 78,87% of the shares of the company was owned by Spartak-Finance LLC, owned by Adel Zaripov, head of the profitable real estate department and director of the property complex of the shoe factory. The chairman of the board of directors of the company is adviser to the chairman of the board of Tatfondbank Ayrat Akhmetshin.
On December 15, the Bank of Russia in connection with the “unstable financial situation” of the credit institution and “the existence of a threat to the interests of its creditors and depositors” introduced a temporary administration in the person of DIA for six months in Tatfondbank. During this period, the powers of the bank's shareholders and management bodies were suspended. Payments to depositors are promised to start no later than January 29. A moratorium on the fulfillment of Tatfondbank's obligations to other creditors has been declared for three months. It is assumed that the DIA within six months will prepare "proposals for further activities" of the credit institution.
OJSC “Shoe Factory“ Spartak ”(Kazan), affiliated with Tatfondbank, which is experiencing problems, has published, as part of its disclosure requirements, the ...
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