Direct Losses for Wildberries Could Exceed $1 Billion
The Ukrainian Foreign Intelligence Service (SZRU) estimates that direct losses suffered by Wildberries, Russia’s largest online marketplace, could exceed 100 billion rubles ($1.2 billion) following a series of attacks on its logistics infrastructure, UATV English reports. According to the intelligence service , at least 14 Wildberries logistics hubs have been destroyed or severely damaged in…
Ukrainian intelligence suggests that Wildberries, Russia's largest online marketplace, might suffer financial losses surpassing 100 billion rubles ($1.2 billion) due to recent attacks on its logistics infrastructure. At least 14 of the company's logistics hubs have been destroyed or severely damaged, reducing its warehouse capacity by 20%.
The total financing needs for Wildberries have already reached an estimated 1.3 trillion rubles, which the company may need to borrow to stay solvent. The attacks have also caused sellers to leave the platform, leading to a 25% decline in Wildberries' turnover. The company's unique business model, which involves immediate payments to customers and delayed payments to sellers, is now unsustainable as sales continue to drop.
The Russian government is reportedly preparing a support package for Wildberries sellers, potentially including tax holidays and subsidized loans, but this could place additional pressure on Russia's struggling financial institutions.
Written by urgent.news from UATV English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
