Krympress reports:
The retailer M. Video-Eldorado shows signs of restoration after a significant restructuring of the property structure and change of the management team. The new owner of the network was Bilan Gorokhov, who previously headed the company. Following the change of shareholder, the rotation of top management also took place-specialists who worked with marketplaces and large digital sites came to key positions, reports pronedra.ru.
Experts note that the transfer of a control package of shares to the hands of managers is a typical step in crisis situations aimed at stabilization. This decision, according to sources close to the situation, is an agreement between the former owners and the largest creditors. It is expected that this will allow the company not only to maintain operational stability, but also to expand the distribution model due to new sales channels.
Earlier, M. Video belonged to the Safmar group Mikhail Gutseriev. Control over the company was established in 2017, when the structures of the businessman acquired 57.7% of the shares from the founders. Later, the share was brought to 75%. At that time, Said Gutseriev, the son of an oligarch, also attended joint capital. Under the control of the new group, the retailer held a number of absorptions, including the purchase of the Russian business Mediamarkt and the Eldorado network. These steps temporarily brought the company to leadership positions in the field of household electronics and equipment.
However, coronavirus pandemia, the mass departure of Western brands from the market and the rapid development of Internet trade have radically changed the situation. The company lost the challenges, making strategic mistakes-in particular, untimely revision of the business model and ineffective distribution of resources.
By 2021, the cost of shares on the exchange decreased from 820 to less than 90 rubles, and capitalization fell by almost 10 times. At the same time, annual revenue began to decline by 20%, and the total debt exceeded 80 billion rubles.
Nevertheless, despite the threat of bankruptcy, the structures of Safmara continued to pour funds into business and have obtained agreements with key creditors. In parallel, the management initiated measures to optimize expenses and revise the strategy. The first results were not long in coming — the restoration of indicators began, and the level of trust of investors began to gradually grow.
In the spring, reports of the possible sale of M. Video-Eldorado appeared in business circles to the Bank of PSB. A similar scenario was implemented during the transition of the Magnit under the control of VTB. Such transactions are usually accompanied by the preservation of the brand and working infrastructure.
At the current stage, there is a stabilization of the situation within the company. Structural reforms, updating the leadership and restoration of business relations allow us to talk about the gradual return of M. Video to positions that were lost in the crisis years.
Crimea news | Krympress: Latest news and main events
Comments are closed.