Technosila to undergo bankruptcy proceedings in January

SV Group/Technosila’s bankruptcy application will be considered by the court on January 21, 2011, Moscow Arbitration Court ruled, Mally.Ru reports.

SV Group first declared itself insolvent on July 28, 2010; the application was not processed at the time because some of the files hadn’t been organized in accordance with the existing requirements. Technosila’s second bankruptcy application, placed with the court on September 24, 2010, was also left unheeded.

The company has actually been undergoing bankruptcy proceedings since July 2010; the company, which owns Russia’s third largest electronic goods chain store, is estimated to owe a total of 8.8 billion RUR to its creditors.

The enterprise runs three hypermarkets in Yekaterinburg, namely, in Park House, Fan-Fan, and Greenwich malls.


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