Wildberries sellers face losses after Ukrainian warehouse strikes
Russia could face a wave of bankruptcies among entrepreneurs who sold goods through the Wildberries marketplace and lost inventory in attacks on its logistics centers, Reuters reported on Aug. 7.
Russian entrepreneurs who relied on the Wildberries marketplace to sell their goods are facing significant financial losses after attacks on its logistics centers, according to Reuters. The marketplace's inventory losses have prompted concerns about potential bankruptcies, with compensation for sellers estimated to cost hundreds of billions of rubles.
Sole proprietors, a substantial portion of Wildberries sellers, are at particular risk as they may be held personally liable for business debts under Russian law. The Russian Chamber of Commerce and Industry has suggested changes to bankruptcy procedures for affected entrepreneurs, while the government is also considering measures like loan repayment holidays, subsidized lending, and tax relief.
However, direct compensation for sellers is not currently planned. Ukrainian drones have targeted at least 20 Wildberries logistics centers, destroying about 1.18 million square meters of warehouse capacity – roughly 12.7 million square feet. This has already impacted the company and the broader Russian economy, with Wildberries' turnover reportedly down by about 25%.
Written by urgent.news from New Voice of Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
