Largest Cigarette Distributor Tedis Ukraine Enters Bankruptcy Proceedings

The Odesa Regional Commercial Court opened bankruptcy proceedings against Ukraine’s largest tobacco distributor, Tedis Ukraine.

According to a court release dated April 3, the case was initiated by Accord Gold LLC due to an unpaid debt of Hr.38,1 million ($845,800). According to court materials, Tedis Ukraine (formerly Megapolis-Ukraine) admitted the debt in full and stated that it had effectively ceased operations, citing insufficient funds to meet its financial obligations.

Financial reports from 2025 reflect the company’s operational halt. According to Opendatabot, Tedis Ukraine’s revenue fell from Hr.253,4 million ($5.6 million) in 2024 to Hr.4.5 million ($99,800) in 2025. The company’s assets decreased by 16.7% to Hr.780.3 million ($17.3 million) last year, while its liabilities stood at Hr.643.7 million ($14.3 million). The number of employees decreased from 767 in 2023 to 40 by the end of 2025.

The court ruling has appointed Artem Danylov, as the property manager and introduced a moratorium on creditors’ claims. The next hearing in the case is scheduled for June 2.

Tedis Ukraine was one of the largest companies in Ukraine’s tobacco distribution market. Registered in Odesa in 1999, the company held a near-monopoly on cigarette supplies from major international manufacturers to retail outlets across the country. According to the European Business Association (EBA), the company operated a vast national logistics network with 32 regional branches, covering approximately 50,000 retail outlets across the country in 2021. 

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It was renamed from Megapolis-Ukraine to Tedis Ukraine in May 2016 following a restructuring process. Megapolis-Ukraine was originally a subsidiary of the Russian company “Megapolis,” owned by Russian oligarch and arms manufacturer Igor Kesaev.

In 2016, the company reported that there were no Russian companies or Russian citizens among its direct or indirect owners.

Since 2013, the distributor has maintained partnerships with international tobacco manufacturers, including Philip Morris International, Japan Tobacco, Imperial Tobacco Group, and British American Tobacco.