PickPoint’s debt, which filed for bankruptcy, exceeded 2.6 billion rubles

In early April, the Automated Delivery Point Network announced its intention to file for bankruptcy, and in July, the Moscow Arbitration Court introduced a follow-up procedure on the company. In 2022, the company’s revenue decreased by 34.8%, to 2.3 billion rubles, the net loss was 351.35 million rubles against a loss of 262.61 million rubles the previous year.

Sberbank also declared PickPoint bankrupt. According to a representative of the financial organization, the debt for the service exceeds one billion rubles, and the bank is working within the framework of bankruptcy proceedings.

As they point out in Sberbank, PickPoint did not announce plans to pay the debt out of court or to settle it through an amicable agreement.

The lawyers did not exclude the vicarious liability of PickPoint shareholders, including the structure of the French postal group La Poste and the Elbrus Capital funds, adding that it would not be easy to obtain payments from them.

• The PickPoint parcel delivery service decided in April to stop operating in Russia. The decision is due to the financial difficulties of the business. Denis Petrushevsky, general director of Halva parcel ticket offices, stressed that PickPoint’s exit from the market opens up opportunities for the development of other companies in this field. According to him, Halva parcel lockers have been part of the PickPoint network for several years. Since autumn 2022, Halva has been developing its logistics, he added.