(Photo: Mikhail Grebenshchikov / RBC)
The Respublika bookstore chain plans to file for bankruptcy. Reported by TASS with reference to the press service of the company.
“The company’s cash flow in the context of a pandemic will no longer allow it to fulfill its obligations and pay off debts to creditors. We do not see any other way out of this situation and intend to file a bankruptcy petition for LLC Respublika, the message says.
The press service said that after the restrictions were lifted, management decided that sales were returning to normal, but ultimately traffic stabilized at 60% of the figures for the same period in 2019. After the announcement of new restrictive measures, it began to decline and no longer rose above 50%.
At the same time, the company said that they do not plan to close stores yet. They will continue to work as usual.