Uralskiy Val might pay off debts in full

Uralskiy Val, the consumer electronics and white goods chain store, announced it might be able to pay off its debts in full despite the recently initiated bankruptcy proceedings.

The company placed its insolvency application with Sverdlovsk Region Arbitration Court last summer. The chain had 193.29 million RUR worth of debts at the time and operated nineteen stores, of which eleven were located in Yekaterinburg and eight were based in Kurgan, Miass, Kachkanar, Pervouralsk, Zlatoust, Snezhinsk, Revda, and Kushva. The court accepted the application on July 20, 2009.

In the course of the court’s latest session, Uralskiy Val asked for the hearing to be postponed, as the company needed to finish up a series of negotiations that could lead to the debtor becoming capable of paying its creditors in full.

The court’s next hearing has been scheduled for September 25, 2009.

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