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New directors will restore Tervolina shoe network
19.04.2011 3305

New directors will restore Tervolina shoe network

The Tervolina footwear chain never recovered from the crisis - in 2010 the number of its stores continued to decline. The chain will be restored by new managers - general director Vladimir Dudarev, who came from the alcohol company "Rust Ink" and financial director Andrey Shinkarenko, who worked in the Tinkoff restaurant chain. Writes about this "Kommersant"

“Tervolina” was founded in 1992, on its website there is information about 46 stores in Moscow and more than 80 in the regions. Revenues in 2010 year, according to expert estimates, could be $ 100-120 million.

The beginning of the financial crisis in the country coincided for Tervolina with the arrest of the owner: in September 2008, the Investigative Committee under the Russian Ministry of Internal Affairs accused Vadim Stepanov of large-scale fraud, namely, the theft of a plot of land in the Odintsovo district of the Moscow region (according to preliminary data, the damage amounted to 3 bln rub.) Almost immediately, the network faced problems with liquidity. In early April 2009, the Moscow City Court decided to release V. Stepanov on a bail of 10 million rubles, and in September the businessman was helped with a loan by the Housing Finance Bank, owned by his old friends - the founders of PIK K. Pisarev and Yu. Zhukov. In addition to the representatives of the creditors, the former co-owner of M.Video A. Zayonts also joined the board of directors of Tervolina, who was to restore the chain's market positions.

But all these measures did not help. According to one shoe retailer, in 2010, Tervolina was still experiencing a shortage of working capital, which is why it was late to buy new collections. In addition, the company increased the share of Russian manufacturers in the assortment. The number of stores continued to decline: if in November 2009 of the year there were more than 150, now there are approximately 130. “We closed unprofitable stores and opened new ones, the total number changed insignificantly,” the Tervolina top manager explained. According to him, this year the network intends to grow - mainly in Moscow.

The Tervolina footwear chain never recovered from the crisis - in 2010 the number of its stores continued to decline. The network will be restored by new managers - general ...
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