The bankruptcy case was initiated by electronics retailer DNS, which claimed the company owed more than 600 million rubles (about $7.6 million). Another 24 creditors later joined the proceedings.
The total claims against Kvant reached nearly 4.15 billion rubles (about $53 million). Major creditors include entities affiliated with Yandex and Sberbank, as well as Sitronics Group, Ozon, steelmaker Severstal, and Chinese electronics giant TCL.
Why the production venture failed
Kvant LLC was established in 2016 in Zelenograd. Televisions sold under the Irbis brand were assembled at facilities in Voronezh and Zelenograd, including a former Soviet-era factory site.
The company’s problems had been building for years, and…