Russia’s oldest cosmetics factory, Svoboda, may be declared bankrupt. Genesis JSC, which is affiliated with Alexey Chetvergov’s Chernogolovka Group, is planning to seek this bankruptcy due to a debt of 125 million rubles. The process may begin as part of negotiations regarding the sale of Svoboda. Chernogolovka is currently one of the potential bidders for the factory’s business, valued at over 1.3 billion rubles.
Anna Zabrotskaya, Managing Partner at Nordic Star Law Offices, commented on the possible bankruptcy of Russia’s oldest cosmetics factory, Svoboda, for Kommersant.
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Anna Zabrotskaya
Managing Partner, Attorney-at-Law