Largest exporter of Russian vodka filed for bankruptcy

vodka_exporter_bankrupt

Roust Corp company, owned by Rustam Tariko, filed for bankruptcy on December 30 at the Manhattan court.

The company believes that there are valid reasons for the approval: depreciation of assets, restrictions on imports and exports, and other macroeconomic factors beyond the company’s control. Among these reasons large illegal market and the prohibition of supply from Russia to Ukraine were listed.

The total amount of debt which the company plans to restructure is $1.14 billion. According to the company, the majority of the creditors agreed with the restructuring plan.

Roust Corp exports such brands as Russian Standard, Green Mark, Parliament, Talka, and Zubrowka.

Source: retail.ru