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The court began bankruptcy of Russian “daughter” of Vertu

Суд начал банкротство российской "дочки" Vertu

The Moscow arbitration court upheld a bankruptcy petition, OOO “Werth Rasha” — the “daughter” of the British manufacturer of mobile phones luxury Vertu, reports “Interfax”. The company introduced a procedure of observation. The issue of bankruptcy will be considered in court on 17 may 2018.

“The bankruptcy of the Russian Vertu does not mean that it can affect directly the British manufacturer, as the company is the affiliate brand of the manufacturer. In doing so, put yet a procedure of observation and to the bankruptcy of the company at least a year”- commented the lawyer Panasyuk, Valeriy from uridicheskogo Bureau “Panasyuk and Partners.”

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October 12, OOO “Werth rush” has filed a statement of its own bankruptcy. The company’s debt to creditors exceeds 272 million rubles.

In July, the Financial Times newspaper has reported that the production of luxury smartphones Vertu will be eliminated. The owner of the company Murat Hakan Uzan, bought Vertu in March 2017, was unable to negotiate with creditors. It will retain the rights to the brand, technology and design of Vertu. Uzan plans to revive the brand in the future.

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Vertu was established in 1998, Custom phones of the manufacturer, the average cost is approximately $13 000. The latest attempt to revive their sales had a price reduction to $5000-9000. All the company managed to sell around 0.5 million vehicles. Russia was one of the key markets.

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