Volkswagen’s dealer in Russia went bankrupt

Volkswagen’s dealer in Russia went bankrupt
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In late March, the Moscow arbitration court declared bankrupt a dealer of Volkswagen in Russia, Rus-lan company, according to the documents of the Unified Federal Bankruptcy Register, Rambler News reports on the 4th of April.

The register includes the requirements of eight lenders for a total amount of 1,15 billion rubles ($20,4 million). The largest of them is Zenit bank (556,5 million rubles) and Sberbank (113,6 million rubles), as it follows from the court documentation.

An analysis of the company’s financial standing shows that there is no possibility to restore the repayment ability of Rus-lan, while the debtor possesses real estate and transportation assets.

As a reference, in 2015, the sales of Volkswagen passenger vehicles in Russia fell by 43%, down to 7,900 items. The decline in sales of commercial ones accounted for 47%, down to 634 items.