Shareholders of "Russkiy Kholod", one of Russia's largest ice cream producers, have decided to liquidate the business. This was reported by "Kommersant".
The closure process will cover all enterprises within the holding. The decision to liquidate was made by the owners of the group's trading and production assets: TD Russkiy Kholod CJSC, Altaykholod LLC, and Laguna Koil LLC. The liquidation commission must carry out all necessary measures within 18 months.
The reason is a huge debt burden: the total liabilities of the holding's four legal entities exceed 12.5 billion rubles (approximately $140 million). Product supplies have been suspended since May 1, and internal audits have begun. The Altai Krai administration has been notified of the production closure and the layoff of over 170 employees starting August 8.
Due to insolvency, the investment-financial group "Fordewind" is preparing to file for bankruptcy of "Russkiy Kholod". Meanwhile, investment group "A1" has expressed readiness to buy the business along with its debts for 1.5 billion rubles (approximately $17 million).
