Last week the shareholders of the Mosmart network exempted Vitaly Podolskiy from the general director position, Yan Dunning stepped in for the general director position of the Lenta network, etc.
The retail network Seventh Continent managed to settle restructuring its obligations with 99.9% of the holders of the second-issue obligations a 7 billion rubles. The company will purchase 20% of the shares, and will exchange the rest of them for two-year stock obligations. Two additional offers will be placed for the Pension Fund.
On October, 27th the City Property Management Committee addressed the Arbitrage Court of St.Petersburg and Leningrad region with 2 actions against Lenta Ltd. demanding to vacate two ground areas. The Court appointed the legal investigation on December 18th, 2009 and January 13th, 2010. As the Committee representative explained, while opening a hypermarket at the Obvodnoy channel in 2004 Lenta rented additional ground area a 350 square meters near the shopping center for technical needs from the city. However, the company seized another area a 236 square meters without any permission and fenced it.
The shareholders of the product network Mosmart exempted Vitaly Podolskiy from the general director position and appointed Matvey Briling, the co-owner of the Sheremetyevo-2 hotel complex and the son of the ex-president of the agrochemical corporation Azot. Matvey Briling was invited to Mosmart in July for settling the debt questions with suppliers. The businessman was motivated with approximately 5% of Mosmart Close Corporation shares. Vitaly Podolskiy, the network ex-head, commented upon the personnel transfer in the following way.
Yan Dunning earlier employed by Metro Group for more than 6 years stepped in for the general director position of the Lenta network. Alexey Bobrov, who earlier took this position, left it on September, 1st.
Magnit Public Corporation presented its non-audited working results for October and ten months of 2009. The preliminary consolidated net non-audited retail receipts (excl.VAT) came up to 136.111 million rubles for the 10 months, which means a 30% increase in comparison with the same report period in 2009.
The Federal Antimonopoly Service got interested in the agreement between the trading network Auchan and Credit Europe Bank. After signing this agreement the network clients don’t have the possibility to pay off their purchases with the other banks’ cards. Three years ago the FAS already had claims to Auchan and the Bank, but the legal proceedings on breaking the Law On Competition Protection weren’t raised due to the lack of the evidence base. Now the FAS is to collect evidences with the help of TOP 25 Russian Banks, who have already received the relevant requests.
The Mosmart retailer controlled by Sberbank waited for the investment memorandum with a purchasing offer from Carrefour. Bank Lazard was appointed a business selling agent in Russia.
Tverskoy Kupets, a network from Tver, finished a deal on purchasing 28 stores of the supermarket network Tryoshechka from Pskov. All Tryoshechka stores are now closed, but they will start working after rebranding: the signboard will be changed into Tverskoy Kupets, the assortment and software will also be changed.
Due to the pork flu epidemic spreading in Russia many trading networks take decision to protect their personnel from the disease. The retailers think that if their cashiers and sellers put on bandages, the buyers will also be safe. Now only the Perekryostok network started selling bandages (the secondary items for the product retail business) helping to save from flu and seasonal catarrh.
~~~
During the first reading the deputies voted for increasing alcohol and beer excises. The bill stipulates increasing the beer excise at 200% in 2010 (up to 9 rubles per liter, now it’s 3 rubles). In 2011 and 2012 the increase will come up to 11 and 20%, respectively (up to 10 and 12 rubles per liter).
The Federal Service of Rosalcoholregulirovanie presented a project of decreasing the scale of alcohol consumption and alcoholism prevention on its web-site. The concept of the project says that as a result of its implementation the illegal alcohol market will be liquidated by 2015 (the experts estimate that the share of the illegal alcohol market is now from 30 to 50%).
Evgeniy Fyodorov, Head of the State Duma Economy Policy and Enterprise Committee and member of the Edinaya Rossiya party, informed that the bill on the trade activity state control was to have a stricter regulating character. According to his words, the bill was much improved by the second reading.
During the second reading the deputies were to discuss the bill On Trade, but the discussion was postponed for an uncertain term. The government didn’t introduce its amendments to the State Duma and asked for another two weeks for finishing them.
The retail networks won’t be able to demand more than a 10% volume bonus from the Russian producers – such norm is included to the government amendments to the bill On Trade. The market members warn that since this standard doesn’t apply to foreign suppliers, the traders will prefer to sell import goods.
The Moscow mayor Yuri Louzhkov promised that the Moscow apothecaries, which don’t have flu medicine and gauze bandages on sale, would be deprived of their licenses by relevant city services in the established order.
~~~
In its report PPF Group informed that the deal with the Russian businessman Igor Yakovlev on purchasing the control stock (50% plus 1 share) of Eldorado, the Russian electronic and household appliances retailer, was finished on October, 9th.
On November, 10th the M.Video company held a teleconference, during which they discussed a present state of the household appliances market, as well as the forecast of the company’s development for the next year. According to the results for the nine months of 2009 and the company’s estimates, the electronics and household appliances market decreased at 30-40% in rubles.
The electronics and household appliances network Domo from Kazan started an advertising campaign, which was considered insulting by the local TV channels.
~~~
A jeans clothes producing company Mustang Jeans is to open its first own stores in Moscow. The first Mustang store of 165 square meters will open at the shopping center Atrium in Zemlyanoy Val str. on November 10, 2009. Opening of the second store of 131 square meters at the shopping center Megapolis in Leningradskoe highway is planned for December, 2009.
It also became known that the distributing company Fashion Distribution Lab (F.D.Lab) might become an owner of the Pur Pur brand – a bijouterie and accessories network earlier owned by the Marta holding and Kit Finance Bank. The operator of the Pur Pur network is under the bankruptcy procedure now, and its assets including the brand will be sold during bankruptcy proceedings. In case they fail to purchase this brand, F.D.Lab is now registering its own one – Mur Mur.
After 10 years of working the cosmetic and perfume network “Dlya Dusha I Dushi” (For Shower and Soul) started rebranding. All stores will change its name for Bath&Beauty, and the assortment of some trading points will include make-up facilities. The windows and design will also change colors.
Vladimir Nekrasov, the ex-owner of the perfume network Arbat Prestige, signed an amicable agreement with Nomos-Bank on settling his debt. According to the contract of the Arbat Prestige credit guarantee the Taganskiy Regional Moscow Court earlier recovered $38.32 million from Nekrasov in favour of Nomos-Bank.
The children facilities network “Zdoroviy Malysh” managing 75 trading points in the north-western region plans to enter the Moscow market. The first store will open at the shopping and entertainment center Prince Plaza near the Tyopliy Stan metro station on November, 21st.
The digest was prepared by Retailer.RU and was translated by iTrex company. Itrex is a translation bureau. It offers written and oral translation, notary certification and a lot more. Itrex does work with every language: European, Eastern languages and others. Itrex does work with every topic: technical, legal, financial, business, etc.
