You're reading: Amstor virtually bankrupt, Hr 70 million withdrawn in recent days

Zaporizhia -- Amstor LLC is virtually bankrupt, the company's property is pledged in banks to repay loans, and if financial problems are not resolved soon, thousands of employees of the network could be left without job. 

Such information was voiced by the management of the supervisory council of Smart-holding Industrial and Investment Group, stating at a meeting with the employees of the Zaporizhia stores of the Amstor chain that the group owns 70% of the Amstor network’s assets.

Chairman of the Smart-holding supervisory council Oleksiy Pertin said the group has evidence that UAH 70 million has been withdrawn from the network in recent days.

“We see some strange bills. In order to clarify the situation financial audit is required, to which we are not admitted. When we come with constituent documents, the road to the shops is blocked by three dozen of armed men. They are the people of Vahorovsky [network managing partner Volodymyr Vahorovsky]. Apparently, they are afraid of audit,” he said.

Petrin also said that Amstor’s founding documents do not mention the surname of Vahorovsky, he is not registered as the owner of the network, while he has offshore companies behind him.

“We are the legitimate shareholders of the company. We tried to stop the theft by Vahorovsky. Our company became the shareholder of Amstor in 2009, since then we own 70% of the group. In 2009, the representatives of Amstor came to our company for financial support. We invested money, organized work, since then we’ve been included in the supervisory council, while Vahorovsky as one of the founders of Amstor, was the managing partner,” Petrin said.

The staff of the network, in turn, expressed distrust in Smart-holding, showing the desire to be subordinated exclusively to the representatives of Amstor Trade, headed by Vahorovsky.