Judged and pay
From the beginning of 2016 to the online retailer Wikimart was filed 56 lawsuits from 54 companies, the filing of arbitration courts. The amount of financial claims was 69.2 million rubles — more than in all the years of company’s existence: for the entire 2015 Wikimart received from counterparties 16 lawsuits in the amount of 20 million rubles, in 2014 — 29 claims 17.4 million rubles, according to data from the SPARK database. Of the claims to Wikimart already satisfied the courts of first instance.
CEO WIkimart Andrey Klenin has refused to comment on claims filed and to specify the overall size of the debt.
Among the plaintiffs applied to the court this year, suppliers of goods and equipment, as well as logistics companies. The largest claims — a logistics operator SPSR-Express: in early February, the company filed to the Arbitration court of Moscow the claim about 14 million rubles in April — a further 2 million rubles, the Fact of litigation with Wikimart confirmed RBC Director of legal Department at SPSR Express Nikita Corsairs. In “February” claim, the court decided in favor of the SPSR, the debt on the second — Wikimart actually paid, so the production thereon “will be discontinued in the near future,” said Korsakov.
In 2015, SPSR twice “turned off” Wikimart from their services for debt reported in January Roem.ru. The representative of the press service SPSR noted that, if the partner does not pay for obligations, SPSR suspend shipment until repayment, “and further,” in accordance with the contract continues the cooperation.” Problems with payment logistics services at Wikimart began in September 2015, initially but “somehow managed to negotiate,” said RBC one of the former leaders of the online retailer. In December 2015 Wikimart again was unable to pay with the logistician, but SPSR “endured” before you go to court, says the interlocutor of RBC.
Another major claim by 7.9 mln RUB. — to Wikimart filed in February, the company “Advanced technologies”, specializing, according to SPARK, “electrical work”. In April, the parties signed a settlement agreement, Wikimart promised on their own to dismantle and return the equipment to the plaintiff and in two tranches before September 1, to repay the debt in the amount of 5.2 million rubles, follows from the decision of the court. There are claims from other suppliers of the equipment: for example, 1.9 million RUB from Wikimart through the court requires a firm to “invent” MSK, 3.4 million rbl. — “netvork-MSK, realtor with Cisco (the court has already sided with the plaintiff).
“Netvork-MSK, OOO Wikimart shipped in September 2015 network equipment, but still have not received the money for it, told RBC General Director of vendor Maxim Chistyakov. According to him, representatives of Wikimart few months, “jam tomorrow”, even sent a letter of guarantee with the intention to pay, but the company money and has not received—”, then went to the court.” F. Chistyakov noted that before the autumn deliveries Wikimart “properly paid”.
“There are companies that only pay by a court decision, and it’s a way to get loans for small interest rate”, — says Gorbatsevich. In his opinion, the filing of a claim for bankruptcy is an extreme measure, as with most providers paying Wikimart or after a judgment or through a settlement agreement. In “netvork-MSK admit that the cooperation with the retailer will continue after payment of the debt, but prepaid.
Business in the field of e-Commerce depends heavily on working capital, so for many stores delays in payments to suppliers — often the only way to “stretch” for some time the decline in the number of orders”, explains the founder of the Agency Data Insight Boris Ovchinnikov. At Wikimart in April 2016 there was a decrease in the number of orders 2.5 times compared to April of 2015, in March — half, cites Ovchinnikov. “This way of doing business cannot be sustainable, otherwise there is a risk of falling into a vicious circle: on the background of declining sales encounter problems with payment providers, because of this the range is deteriorating and prices are rising, and, as a consequence, the demand continues to fall,” explains Ovchinnikov.
Online store founded in 2008 by entrepreneurs Faldini Maxim and Kamil Kurmakaev. During its existence, has attracted more than $30 million; in the number of investors included, for example, hedge Fund Tiger Global Management. In 2014, did the Fund, by selling shares to the Chairman of the Board of Directors Anatoly Goncharov and Finprombank unnamed shareholder of the Bank for $40 million, wrote the newspaper “Kommersant”. The founders of the company — FALDINA and Kurmakaeva — then down to 20% for two.
Faldin in may 2015 resigned as Director General of Wikimart. According to the businessman, he is now doing his own project — an online store Gentrys Little and can’t comment on the current situation with Wikimart.
According to the magazine “Secret firmy”, 2014 Wikimart ended with a turnover of $250 million and took 32nd place in the rating “Top-100 biggest sellers of Russian Internet.”
Proceeds of LLC “Vikimart” (on 100% belongs to the Cyprian offshore company “Vikimart limited”), according to SPARK, in 2014 was $ 755,6 million rubles., net profit — almost 1.2 billion rubles Faldin in an interview with “the Secret” said that the company must recoup the funds invested in it in 2018.
Problems of shareholders
Wikimart problems began in the fall of 2015 due to financial problems a major creditor — Finprombank, told RBC former employee Wikimart. The Central Bank insisted on additional capitalization of the Bank at least 2 billion rubles to the end of 2015 and further reserves, wrote the newspaper “Kommersant”. The interlocutor of RBC argues that Finprombank “disabled” financing of the retailer, since neither the contractors nor their employees do not get paid on time. Another source of RBC, close to Wikimart, confirms that once the company will get financing from investors, she will be able to settle the majority of claims.
In December 2015, it became known that the recapitalization of Finprombank in the amount of 10 billion rubles will be engaged in the structures of businessman Musa Bagaeva: he bought an 8.4% Bank of the company “u-Um Management limited”.
Bagaeva in addition, according to the Central Bank on 29 February 2016, the Bank’s shareholders are Andrey Belkin (19,9%), Peter Kondrashov (19,5%) and Anatoly Goncharov (18,5%), Dmitry Semenov (18,2%), Stanislav Perminov (11,5%) and Evgeniy Lyubimov (1.7 percent). The potential new shareholders of the Bank need time to deal with the assets, says the interlocutor of RBC, close to Wikimart.
The entire 2015 and beginning of 2016, the Bank continued to lend Wikimart, insists the representative of Finprombank Eugene, Evmenenko. “Finprombank opened a credit line, which the company is fully selected. At the same Wikimart faithfully served and serves the loans and pays interest on it”, she said.
According to Evmenenko, the Bank has capitalized on 6.5 billion is expected In June tranche of 5 billion rubles, then before the end of the year additional capitalization to 10 billion rubles. “In the end, the Bank will capitalize on more than 20 billion rubles that will allow it to enter the top-50 of Russian banks”, — says Evmenenko. Now Finprombank occupies 92nd place in terms of assets (RUB 58.9 billion on 1 may).
What happened to Finprombank
Now Finprombank there are some problems with the credit portfolio, a significant portion of corporate loans granted indirectly, with a shareholder of the borrowers without liquid security, says the managing Director on Bank ratings Agency RAEX Stanislav Volkov. “Part of the funds on loans borrowers sent to the acquisition of assets, which are now cheaper, they are difficult to implement,” he adds.
The Bank mainly lends to company — net corporate loans on may 1 amounted to 35.8 billion rubles., on loans to individuals accounted for RUB 3.2 billion Recapitalization by Musa Bagaeva not led to a significant improvement in the liquidity situation, as in parallel, the Bank issued new loans, adds wolves.
May 10, the Bank of Russia has stopped accepting bonds of Finprombank as collateral for loans under REPO transactions, of the Lombard list of the Central Bank paper is not ruled out, says a representative of the Bank Eugene, Evmenenko. The Bank of Russia does so, when trying to predict the onset of problems at the Bank, explains the Treasurer of Sovkombank Vladimir Bykov.
According to Bykov, the Bank of Russia stops taking paper as collateral for REPO transactions until the situation is normalized. So it was with securities of the Bank “Russian standard” and Uralvagonzavod, when the regulator at the time, ceased to accept their paper as collateral, and then resumed taking.