Arbat Prestige, one of Russia’s largest cosmetics retailers, is facing financial uncertainties following fiscal and financial claims from the Russian state and from sister company Capital Estate, respectively.
According to Russia’s business daily, Kommersant, Capital Estate’s claim could be the first step of bankruptcy proceedings, with the aim to keep control of the whole process. By securing “friendly creditors” the group would try to avoid that its large debts lead to third-party bankruptcy petition.
