The Network of Automated Pickup Points (PickPoint delivery service) received several dozen lawsuits from its counterparties in the amount of more than 300 million rubles.
The company had problems due to a foreign shareholder: in connection with the sanctions, the owner had problems financing business in Russia, Vedomosti writes.
Who filed lawsuits against PickPoint: Kupishuz (Lamoda legal entity) in the amount of more than 262 million rubles on October 31, Esolutions (part of Otto Group Russia, developed Bonprix online clothing store before the special operation), Ile de Beaute (96 5 million rubles), online store of home appliances “Techport” and others.
PickPoint told the newspaper that it had made “necessary operational transformations to mitigate the impact of the drastic change in the 2022 partner portfolio.”
PickPoint’s shareholder is a foreign legal entity facing the problem of financing a business in Russia due to sanctions.
The company is now undergoing a corporate restructuring and hopes to resolve the issue by the end of this year.
- PickPoint manages a federal network of about 10.5 thousand parcel machines. 100% of the shares of the Russian legal entity are owned by offshore Cyprus. The company’s revenue in 2021 reached 3.5 billion rubles with a loss of 254 million rubles.
- According to Vedomosti, the Pony Express service also faced similar problems. This company has also filed several dozen counterparty lawsuits totaling 171 million rubles.
- Previously, the IML courier service also filed for bankruptcy.