A few days ago, a scandal suddenly broke out around one of the dealers of the BMW brand - the Nezavisimost company. Dozens of customers who paid for cars could not receive them, despite the fact that they were at the site of an authorized dealer. The noise began to grow, and representatives of the Russian office of BMW issued an official statement, where they confirmed the fact that the dealer had financial problems and assured that they were taking measures to solve the problem.
The scale of the problem became clear after the story of Muscovite Gleb Pimenov, who had been trying to pick up a paid BMW crossover for two months, was posted on Facebook. After unsuccessful negotiations with the dealer, Pimenov blocked the main entrance of the dealership with his car and, along with friends, guarded his new car in the parking lot to prevent it from being taken out. This case was published in a number of media, thanks to which the car was still given to the client. But, as it turned out, the Muscovite was not alone in his problem. There was a case, one of the clients, who could not pick up his car from the dealer even with the help of a lawyer, out of desperation almost began to destroy his purchase right in the parking lot, but his friends who were nearby stopped him in time. He still got the car, but disaster almost happened.
The official representative of the Russian office of the BMW Group Vasily Melnikov said:
BMW Group Russia confirms that the Nezavisimost dealership faced a number of complex problems that led to the dealer's failure to comply with the agreements and the subsequent stoppage of its work. Because of this, the deadlines for the transfer of purchased cars to customers were violated. At the moment, negotiations are underway with the dealer to get out of this situation, providing for various scenarios, up to the most cardinal ones.
In order to make a decision as soon as possible, taking into account the interests of customers, BMW Group Russia asks everyone who has encountered a delay in the transfer of a car to contact BMW customer support. In this case, you must have documents confirming the purchase and payment for the car.
At present, simultaneously with the collection of information in order to ensure a sufficient level of safety of vehicles owned by BMW Group Russia, vehicles are being exported from the Nezavisimost DC. The importer's warehouse ensures complete safety and security of cars: cars assigned to the clients of Independence Group of Companies will not be transferred to anyone until the final investigation in the current situation.
The essence of the situation is that, having received money for the car from the client, Nezavisimost did not transfer it to BMW Group, as a result of which the cars were physically delivered to the dealer’s site, and the importer did not give the title without payment. Apparently, the financial situation of the company (which is not yet known for certain) is not in the best way, as a result of which there are actually no funds to buy cars.
At the same time, other dealerships of the Nezavisimost Group of Companies - Land Rover, Ford, Audi and others, do not have such problems, dealerships operate as usual, although the company itself is undergoing an optimization process, due to which several centers of different brands. However, they fulfilled their obligations to customers in full.
“We do not recommend buying cars and doing service work at Nezavisimost and refer customers to other dealerships. We are dealing with questions that customers have and trying to minimize losses,” said a BMW spokesperson.
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“We do not recommend buying cars and doing service work at Nezavisimost and refer customers to other dealerships. We are dealing with questions that customers have and trying to minimize losses,” said a BMW spokesman.
Russian representative office of the German automaker BMW- "BMW Group Russia" - has suspended cooperation with its official dealer "Independence". TOThe company found out that the agent does not give back paid and delivered cars to buyers. Now the Nezavisimost dealer center is closed, and BMW takes out its cars from the showrooms of the distribution network. 360 found out how deceived buyers get their money back from the supplier.
BMW announced the termination of the supply of its cars to the largest official dealer in Russia - Independence, follows from the official press release of the company. BMW has suspended cooperation with the center, as the German concern began to receive complaints from buyers who cannot receive paid cars within the specified time frame.
BMW Group Russia confirms that the Nezavisimost dealership has encountered a number of complex problems that led to the dealer's failure to comply with the agreements and the subsequent stoppage of its work. Because of this, the deadlines for the transfer of purchased cars to customers were violated.
BMW message.
The BMW 360 editors said they do not recommend buying cars in this center because it is "faced with financial difficulties", and also advise contacting an alternative dealer. On the website, the German concern has already removed Independence from the map of its official dealerships. It turned out that in recent months the BMW representative office had not received any money from Nezavisimost for the delivered cars. All cars that were previously shipped to the dealer are taken out.
According to international practice, importers work with dealers according to two schemes. The first involves 100% purchase of the car, and the second makes it possible to pay for the goods in installments. For BMW, this period is 15 days: when it ends, the dealer pays the cost of the car, even if he did not have time to sell it.
In Nezavisimost, the editors of 360 stated that "at the moment, for technical reasons, the dealership is closed and the sale of cars is suspended." However, on the voice saver, the center still appears as an official BMW dealer in Russia.
Meanwhile, more than 25 complaints have already appeared on the BMW Club forum from buyers deceived by the fraudulent center. Some users cannot receive their car, although they paid in full for the cars at the end of August. According to the agreement, buyers had to pick up the car within three days after the completion of the pre-sale preparation.
In an interview with the editors of 360, Timur Marshani, a lawyer, auto lawyer, said that if the dealer does not return the paid car within the specified time, then it is necessary to immediately demand a refund.
The delivery time of the car is specified in the contract, if there is no such clause in the document, then at the first request of the consumer, his money is returned. If the dealer did not return the funds received, then this amount is subject to accrual of interest for the use of other people's money
Timur Marshani.
The expert added that under the consumer protection law, the seller, in case of violation of the terms of delivery of the car, is not only obliged to return the money to the buyer, but also must pay a contractual penalty. “The amount of the penalty is determined in the amount of 1% of the value of the car for each day of delay. Also, it would not be out of place to go to court with a request to seize the dealer's accounts, so that in the event of the company's closure, to increase your chances of a refund,” commented Timur Marshani.
Independence was founded in 1992. The company's dealer portfolio also included the brands Audi, Volkswagen, Jaguar, Land Rover, Volvo, Ford, Mazda, Peugeot, Mitsubishi, Kia. The network included 17 car dealerships in Moscow, three in Yekaterinburg and two in Ufa. Since 2008, the company has been one of the three leaders in the sale of BMW cars in the Russian market. In total, since the beginning of this year, about 19,000 BMW cars have been sold in Russia, which is more than 4% higher than last year, follows from the statistics of the Avtostat analytical agency.
In the fall of 2017, the Pyatnitsa TV channel launched the reality show "Heirs": the offspring of wealthy families had to live for four days in the Russian outback for 1,000 rubles. The hero of the second issue, 20-year-old Anton Nusinov, began the program with a presentation of his life: pictures from London and a huge family estate in Russia, holidays in the best resorts in the world, a flight on a business jet and moving around the city in a Rolls-Royce with a personal driver.
The voiceover said that Anton's dad is a real oligarch, but "either ruined or hiding." Alexey Nusinov, the father of a young man, in 2016 took 9th place in the Forbes rating of "15 main debtors of Russia." Nusinov Sr., one of the two founders of the Independence car dealer, was declared bankrupt in December 2015, the creditors' claims amounted to about 800 million rubles. He successfully sold his stake in Nezavisimost to Alfa Group structures in early 2008 before the global crisis, but got burned in real estate. And now he is watching with bitterness how his main brainchild, Independence itself, is living its last days, which ceased operations at the end of 2017.
Dive into darkness
Former CEO of the Nezavisimost group of companies, Elena Zhuravleva, still cannot believe that the company is dead. “I pass by the salon on Berezhkovskaya embankment, and it is all dark. The signs are off, people are not visible, there are no cars in the parking lot. It still seems to me that something can be done, ”Zhuravleva says sadly.
She joined the company in 2007 as chief financial officer, in the spring of 2014 she became chief managing director, and in February 2017 she was replaced by Nikita Shchegol, the former head of the Formula Kino cinema chain, then controlled by A1 investment company. It is part of the Alfa Group of Mikhail Fridman, German Khan and Alexei Kuzmichev, and now A1 owns a little less than half of Independence (49.95%), the rest belongs to Roman Tchaikovsky, who, together with Alexei Nusinov, founded the company in early 1990 -X. A1 attracted Nikita Shchegol as an anti-crisis manager, but he did not cope with the task. “The main task was to understand the current situation, form an anti-crisis team and form an action plan that would help the group of companies restore stability,” says an A1 representative. “It was planned to restructure the debt, which was not done, and as a result, the group lost the opportunity to continue functioning.”
Automakers and dealers have known about the problems of Independence for a long time, but the rapid ending of this story came as a surprise to everyone.
In September 2017, Independence, the third largest BMW in Russia in terms of sales, suspended the sale of cars of this brand, the German manufacturer simply disconnected the dealer from the order system due to numerous customer complaints about delays in receiving paid cars. Then BMW deprived the company of dealership, almost immediately this example was followed by Jaguar Land Rover, Volvo. On November 24, Gazprombank filed lawsuits against six companies of the group demanding that they be declared bankrupt, on November 27, Nezavisimost announced that it had closed all shopping centers in Moscow and the regions and completely stopped selling new cars. The total debt of the company, according to its data, amounted to about 6 billion rubles. In December, calls to the company's central office at 71 Leningradskoe shosse were answered that the company's general director was no longer there, and instead of him a "liquidator was working as part of the curtailment of operating activities."
“This is the sad anniversary of the 10-year partnership between one of the leaders in the automotive market and the best investment company in Russia,” says Elena Zhuravleva. More than 10 years ago, she was invited to the position of CFO at Nezavisimost just to prepare a deal to sell a stake in the company's capital to Alfa Group and Goldman Sachs.
Arrival of Alpha
Nusinov, along with fellow student Roman Tchaikovsky, went into business in the early 1990s, almost immediately after graduating from the journalism department of Moscow State University. Novice entrepreneurs, Nusinov says, had a contact at the Volga Automobile Plant and could buy Zhiguli at “normal prices” and sell them in Moscow. From domestic cars, the partners quickly switched to foreign cars - at first they imported cars from Finland and Estonia, and in 1992 they acquired the Nezavisimost company, which had already signed a dealer contract with Volvo. In 1995, dealer contracts were signed with Hyundai and Audi.
Soon Tchaikovsky and Nusinov had a third partner - Arkady Briskin. He lived in Germany and was responsible for the supply of cars from the Audi and Volkswagen factories to the Moscow showrooms of Independence. Briskin received 30% in the company's business selling German foreign cars. The rapid transition to imported cars in many ways made the company attractive to investors.
“Western manufacturers came to Russia with their own methods and culture and taught us all the time,” recalls Aleksey Nusinov. “We took them abroad and showed how to do business, there were constant consultations in Russia, big conferences were held every six months, a specialist was attached to us from the representative office, who constantly helped us.”
By the mid-2000s, the company already had IFRS financial statements, Ford, Jaguar Land Rover, Volkswagen, Mazda added to the brand portfolio. Nezavisimost built Europe's largest center for sales and service of premium cars, and in 2006 began construction of the largest body repair center for cars of all brands in Eastern Europe. Alexey Nusinov says that the company did not attract debt financing and developed using its own funds. The company did not have a CEO - the shareholders themselves were in charge of management. The Russian automotive market almost doubled between 2005 and 2007, to 2.8 million passenger cars sold per year.
Nezavisimost followed the new trends and wanted to build an automobile “village” on the Kiev highway. The company leased 12.8 hectares of land for 49 years, the cost of the lease was $13 million. They expected to receive money for the construction of the "village" through an IPO, but in 2007 negotiations began with A1. According to Alexey Nusinov, initially the owners planned to sell 30%. "Investors wanted to enter a company in a growing market, package it up and take it to an IPO," he says. In 2006, Nezavisimost's revenue amounted to $680 million, in 2007 - more than $1 billion. And Nezavisimost itself was estimated at $340 million. Plans changed dramatically when Roman Tchaikovsky bought out the share of the third shareholder of Independence, Arkady Briskin. Nusinov found out about this after the fact, did not want to be a junior partner and sold his stake to Alfa and Goldman Sachs structures. Since then, Nusinov, according to him, has not communicated with Tchaikovsky.
However, it follows from the arbitration cases that Nusinov, Tchaikovsky and Briskin in 2010 took a loan from Promsvyazbank for the construction of an office and exhibition center on Berezhkovskaya Embankment under personal guarantees - about $ 60 million. Nusinov failed to pay off in full, and on December 10, 2015 he was declared bankrupt.
“The creditors took away the already built facility, in which $100 million was invested, and also demanded money on guarantee. But a guarantee is not money, what should I return? - says Alexei Nusinov. “I had to go bankrupt.” It was not possible to bankrupt a German citizen Briskin in a Russian court. Tchaikovsky refused to communicate with Forbes.
Conquest of regions
Nusinov wonders why the story of Independence ended in failure. “There were no large construction projects, and Roman is a very attentive, cautious and not risky person,” says Nusinov. “Tchaikovsky is a strong manager, it is difficult to explain why one of the most successful and powerful companies in the car market went under,” says Vladimir Mozhenkov, one of the founders of the AvtoSpetsCentre group of companies.
Independence began its credit history in April 2008 by signing an agreement with Western banks for a $70 million syndicated loan. The company was proud of the loan agreement. “We showed the market that we learned how to borrow money,” recalls one of the former Independence employees. In the summer of 2008, negotiations began on the acquisition of Transtechservice, the largest car dealer in the Volga region. On its basis, the shareholders of Independence were going to build a federal dealer holding with a presence in all key regions.
Analysts then estimated Transtechservice at $400-500 million, and Nezavisimost at $800 million. The deal did not take place, but even the 2008 crisis did not correct plans for regional expansion. In the summer of 2008, the former head of the Mosmart retail chain, Eric Blondeau, became the managing director of Nezavisimost, his annual income was estimated at $ 1 million - twice the average compensation of managers of a comparable level.
At the end of 2009, it became known that Independence was negotiating the purchase of the Yekaterinburg holding Autoland, which owns salons in Yekaterinburg, Ufa and Magnitogorsk. At the end of 2008, Nezavisimost's revenue amounted to $1.3 billion, and Autoland's revenue was $558 million. This time everything went well, and Autoland became part of the Moscow company at the end of 2010. In February 2010, the company borrowed 1.1 billion rubles from Sberbank to refinance loans, and in the autumn the bank issued another 2 billion rubles to Independence. The company opened new stores in the regions, increased retail space in Moscow.
Despite the rapid growth of the business, in 2011, Eric Blondeau was replaced by the former head of the Audi representative office in Russia and Volkswagen Group Rus, Oscar Akhmedov (he, like Blondeau, left the company three years after his appointment). And on March 14, 2014, the financier Elena Zhuravleva was appointed the chief managing director of Nezavisimost, who was supposed to solve the main problem - to reduce the debt burden. By that time, Nezavisimost’s total debt was $260 million. After the annexation of Crimea and the imposition of sanctions, the ruble began to fall, and by the end of 2014, the company’s debt in rubles had almost doubled. But outwardly, nothing foreshadowed the collapse.
In May 2014, Nezavisimost opened a new Audi showroom with a showroom (1,000 sqm) on Berezhkovskaya Embankment. The gala evening was hosted by the popular TV presenter Timur Rodriguez, Cuban cigars were spun in the hall to the performance of trumpeter Vadim Eilenkrig with a jazz ensemble, an aerial acrobat girl flew under the roof, conversations were held on the second floor in the lounge area with hookahs and a view of Moscow City.
From the moment of opening, the car dealership brought only losses - rental payments exceeded income. Exactly the same situation has developed with another large car center of the company - for the sale of BMW in Kotelniki on the 15th km of the Moscow Ring Road. The trading floor occupied 7000 sq. m, the rent cost $ 2 million per year. The complexity of negotiations with tenants is evidenced by the example of Avilon, which in the fall of 2017 began selling BMWs at a site in Kotelniki that had been vacated after Independence. Having recalculated the rent, Avilon decided that it would be more profitable to buy the auto center from the owner, the Belaya Dacha company.
Elena Zhuravleva says that managerial mistakes were not fatal, but debts ruined the company. “It all started with a loan from Sberbank for $50 million, because of some dispute with Alfa, Sberbank did not renew it,” says Zhuravleva. According to her, in order to pay off, Independence cleared its accounts in two weeks and was left with practically no working capital. Why didn't Alfa-Bank help, because at the beginning of 2014 Alfa Group consolidated 49.95% of Independence? “The shareholders had a clear position: we do not lend to our companies,” says Zhuravleva. The representative of A1 adds that the share in the capital of Nezavisimost has always been considered as a portfolio investment and the company did not interfere in the operating activities of the car dealer.
In 2015, Independence began to sell off assets. Leroy Merlin bought a land plot from the company on Kievskoye Highway, the Khimki-Peugeot car dealership went to a Chinese car dealer, and a huge body shop was sold to the St. Petersburg company Evroavto. The staff of "Independence" was reduced from 4,000 to 1,600 people. According to Zhuravleva, in 2015 the savings amounted to 2 billion rubles. But there was still not enough working capital, and Zhuravleva went to ask the shareholders for money. “I wanted to prove to them that it is possible to work with money. Give, I say, for three months, we will return it on time and make a profit,” she says. - A1 and Tchaikovsky gave $5 million each, we returned it on time and showed the profit. Then we received funds again on the same conditions, but you can’t do business on short money.” In 2014, revenue amounted to 52.5 billion rubles (in 2013 - 57.1 billion rubles), in 2015 - 47.1 billion rubles, in 2016 - 28.6 billion rubles. Since 2012, the company has not shown a profit.
The top management of A1 was constantly looking for a replacement for Zhuravleva and did not hide this from her. According to a source in the investment company, they needed a person who would talk about the real state of affairs in Independence. “Everything that happens in the company cannot be understood by sitting on the board of directors. We were shown presentations, then all plans failed, distrust of the numbers they brought us reached its peak, ”explains the Forbes interlocutor. But Roman Tchaikovsky remained the head of the company all this time, and Zhuravleva was considered his man.
The problem was solved by Zhuravleva herself, announcing at the end of 2016 that she was leaving. Nikita Schegol became the new leader of Independence. Roman Tchaikovsky didn't mind. The Formula Kino cinema chain, which was previously managed by Shchegol, was sold by A1 to Alexander Mamut in April 2017.
Shareholders A1 and Tchaikovsky in equal shares sent 1 billion rubles to save the company. Zhuravleva also asked for this amount, according to her plan, the money would have saved the company in October 2016, but she received it only in January 2017. "Independence" got the last chance. They promised to show the result in six months, but the plan did not work. Already in May, it became obvious that the money would not help. The company continued to generate losses and was unable to service current loans. A1 decided not to put off the problem any longer and honestly told the banks about the unviability of the car dealer.
Lenders responded to honesty by demanding that the car dealer be declared bankrupt in the fall of 2017. The history of "Independence" is over. Shareholders of A1, according to Mikhail Fridman, lost $100 million on this project. Elena Zhuravleva is working on the creation of a children's school in Skolkovo and is engaged in crisis management. Alexey Nusinov is thinking about returning to the car market. “Business I know, why not? he says. “I communicate with Alfa, but so far, not very seriously.”
- With the participation of Elena Berezanskaya and Ekaterina Kravchenko
Mikhail Fridman:
“From time to time we lose something, it happens”
What can you say about the performance of your Russian company A1? After the bankruptcy of the Nezavisimost car dealer, A1 has no large assets left.
The purchase of "Independence" really turned out to be unsuccessful. After the crisis of 2008, a difficult situation developed in the industry, and the company, unfortunately, could not get out of this crisis, the market continued to fall. And the management also made various mistakes. I don't think this is a significant blow for A1, I'm sure that Independence's clients weren't hurt. From time to time we lose something, it happens. The company was heavily leveraged from the start. And in a falling market, this is usually an unbearable burden.
How much did A1 lose on investments in Independence?
Approximately $100 million
What are the shareholders' plans for A1 today?
We are in the process of rethinking and refining our business model. Knowing the realities in crisis situations, we can successfully engage in crisis management. For example, helping non-controlling shareholders fight infringement of the rights of minority shareholders, restructure bank debts on mutually acceptable terms, negotiate with honest authorities, etc. All this has been and, I am sure, will be in demand on the Russian market in the foreseeable future. And we are also thinking about the best way to build the A1 management compensation system.
One of the largest Russian car dealers has stopped working. Salons in Moscow and regions are closed
Nezavisimost's financial difficulties began a few years ago due to the fall of the Russian car market. But the problems reached a climax this year: customers began to complain that the dealer did not give them the cars they bought. What happened to Independence?
The collapse of Independence did not come as a surprise. In the summer and fall, the car dealer's problems reached their peak. Dozens of people said they could not win back their already paid cars. Only tough actions helped. One of the buyers blocked the entrance to the car dealership, called the police and said that he would not leave until he was given the keys - and only in this way was he able to pick up his new car.
Against the backdrop of massive customer complaints, Volvo and BMW terminated their dealer agreements. In Nezavisimost itself, they assured that problems with clients are being resolved, and the company is looking for options for restructuring debts - it has 6 billion rubles of them. But no way was found, and one of the main creditors, Gazprombank, filed claims for bankruptcy of the group's companies. Salons had to close. And all this looks like a very sad consequence of the crisis in the automotive market, which has been in a fever in recent years. But this is especially sad for clients who have not yet waited for their paid cars, says Dmitry Zolotov, coordinator of the NGO Movement.
Dmitry Zolotov coordinator of the Public organization "Movement"“Nothing has changed at all. Machines received units. First they were promised until the end of October, then until the end of November, now until the end of December. For Volkswagen, about 40 people have not yet received cars, for Mazda we have eight people, and for Volvo we also have about 40 people in limbo. According to BMW, there are two or three people who still have not received anything. At first the dealership said, "go to the dealer." Then, when they were deprived of the dealership, and they physically closed the doors for technical reasons, there was no one to go to, the representative office said “we will solve the issue.” But the issue has not yet been resolved."
Although the administrative director of the Nezavisimost group of companies, Sergei Chadin, assures that disputes are resolved with clients individually, despite the fact that Nezavisimost stops working:
Sergey Chadin Director of the group of companies "Independence"“For a number of clients, it was decided to attract the resources of importers. For a number of importers, such work is still underway; for the rest, some separate decisions were made related either to the termination of contracts, the issuance of funds, or some kind of replacement. Management has taken and is taking all possible actions to close all contracts and all obligations under the contracts.”
One of the former Independence employees told Business FM that the delays in issuing cars began a year ago, and this summer the situation became critical. Cars were not issued for two or three months. In September, executives even made the decision not to sell the cars because employees received threats: angry customers found their home addresses. One day, the employees were announced about the closure and offered to pay 20 thousand rubles for several months of work. Dissenting employees at first wanted to sue, but then changed their minds, our interlocutor says:
“They wanted to file a class action lawsuit, but everyone got scared, thinking that, firstly, we would spend a lot of money on a lawyer. Independence, most likely, has some kind of garters in the courts, so it is useless to sue them, because the company itself is very strong legally. At first, about 15 people gathered, they wanted to file a class action lawsuit, and then everyone quarreled and fled. I'm the only one left."
His claim was denied. Those clients who did not wait for the cars are only going to sue, the first meetings will soon be held. But now that the company is shutting down, their hopes for something are even less. What happened to Independence against the backdrop of a falling car market can be understood: according to media reports, its revenue has halved over the past four years, and car sales have quadrupled. But this is the first such large-scale case of collapse. And perhaps not the last.
Auto dealer "Independence" has stopped selling cars in their showrooms in the capital. Bankruptcy-sued group has several centers in the regions
Auto dealer group "Independence" closed the last car sales points in Moscow. This was told to RBC by a source close to the group, and confirmed by a partner of the company. The representative of "Independence" confirmed to RBC the closure of all the Moscow salons of the group.
The website of the car dealer and phone numbers of car dealerships do not work. According to the official websites of Audi and Volkswagen (the last two brands with which Nezavisimost had dealer agreements), the company is no longer their official dealer. A representative of Volkswagen (which unites the brands Volkswagen, Audi, etc.) said that there were no "changes in the status" of Independence: the company remains a dealer of its brands.
GK Independence bankruptcy 2017, sale of property
In Moscow, auto dealer companies "Independence" stopped selling cars completely. There may be loss of funds by customers who have purchased a car on an advance payment. Several car dealerships in the regions continue to operate.
The Nezavisimost website is not working at the moment and the telephones at points of sale in the capital are silent. The Nezavisimost company is no longer listed as an official dealer on the Russian websites of the Volkswagen and Audi brands.
While the Ford showroom is operating in Yekaterinburg and Ufa, Peugeot is in Yekaterinburg.
"Independence", bankruptcy
Gazprombank (GPB) filed a lawsuit for the bankruptcy of a number of companies in the Nezavisimost group of car dealerships, according to the file of arbitration cases.
So, on November 24, GPB filed bankruptcy claims against Independence Real Estate Ural LLC, Nezavisimost Yekaterinburg M LLC, Nezavisimost Yekaterinburg K LLC in the Arbitration Court of the Sverdlovsk Region, as well as bankruptcy claims against Nezavisimost MTs LLC, Masterpromtorg LLC , LLC "Independence - used cars", LLC "Independence - Khimki" to the Moscow Arbitration Court.
Earlier, the bank notified about its intention to apply to the court for bankruptcy of about 20 companies that are part of the Independence structure. The notifications concerned the companies of the Nezavisimost group in Moscow, Yekaterinburg and Ufa, as well as those controlled by the Cypriot Independence German Motors Limited and Independence Holdings Limited. In particular, among them were Volkswagen dealer Avto Ganza LLC, as well as Audi and Peugeot dealers.
Car dealership "Independence", scandal
In February, the shareholders of Nezavisimost funded the company (the amount was not specified) and replaced the top management. In 2015, Nezavisimost restructured its debt to Gazprombank by 2.6 billion rubles. (as Kommersant reported, the loan was extended until at least 2019). In A1, “Kommersant” noted that they were in the process of negotiations with banks, and “it will be possible to talk about additional investments only after they are completed.” Earlier, Interfax sources claimed that A1 refused to finance the dealer and would not prevent its bankruptcy if one of the counterparties initiates this process.
In A1, Kommersant was told that "historically, they were a financial investor in the Independence Group of Companies and were not involved in the operating activities of the company."
At the end of last year, the dealer's management reported a difficult financial situation in the company and requested financial support, which was provided, according to A1. “A1 actively supported the management in the process of negotiations with creditor banks, but, unfortunately, as we see, the situation did not normalize,” the shareholders said.
