Eldorado.ua chain of stores on the verge of bankruptcy
Photo: RAU

The network of household appliances and electronics stores Eldorado.ua (Diesa LLC) announced the convening of a general meeting of creditors for September 22, reads the announcement on the website of the Supreme Court.

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The company is going to offer creditors to consider and approve a rehabilitation plan before bankruptcy proceedings are initiated.

Eldorado.ua chain of stores on the verge of bankruptcy

The Eldorado.ua press release, published on the website of the Retail Association of Ukraine, reports that pre-trial rehabilitation may allow the company to settle its debts and save its business.

"By choosing pre-trial rehabilitation, Eldorado.ua chooses the most difficult, but at the same time, the most responsible way of fulfilling its obligations to partners and counterparties. After all, resolving the issue of debt repayment in any other way is reduced to bankruptcy proceedings, which carries unpredictable risks for all parties to the process and minimizes the possibility of unsecured creditors receiving fair compensation," the message says.

The pre-trial rehabilitation plan was prepared by the Ario Law firm.

Eldorado.ua indicates that its business has suffered significantly as a result of Russian aggression.

The stock of goods in the central warehouse and part of the stores has been destroyed, a certain part of the sales points is still located in the temporarily occupied territories. In total, about 20 objects of the network were affected, some of them were preserved, because they are located in or near the zone of active hostilities. Eldorado.ua filed a lawsuit against Russia in order to compensate for the losses received. The amount of the lawsuit will exceed UAH 1 billion ($27.2 million).

In August 2023, one of Eldorado.ua's partners – Delonghi Ukraine LLC – initiated the bankruptcy of Diesa LLC.

The preparatory meeting in this case should be held on October 3, 2023.

As of mid-August 2023, the Eldorado.ua network consisted of 70 stores in 49 cities.

In December 2022, media reported that Viktor Polishchuk's companies, which manage the Kyiv skyscraper "Gulliver", the chain of electronics and household appliances "Eldorado" and several large warehouses, stopped servicing loans to state banks after the start of the full-scale war.