The Moscow Arbitration Court arrested funds in the accounts and property of the Russian structure of Adidas in the amount of 3.49 billion rubles, should from the court ruling.
The interim measures were imposed as part of the lawsuit filed by the operator of the Dream Island amusement park, Amusement Park LLC, against Adidas LLC, filed on October 9. The plaintiff demands to recover from the Russian legal entity of the company the principal debt of 419.88 million rubles, a penalty of 1.69 billion rubles, and losses of 1.39 billion rubles. and interest for each day of delay.
The next hearing in the case is scheduled for November 13.
Adidas closed stores in Russia in March 2022. At the end of last year, Adidas rented 153 premises for stores. In 2022, the revenue of the Russian structure amounted to 24.97 billion rubles, falling by 55% year-on-year. In the reporting of the parent company for 2022, losses from the winding down of the Russian business are estimated at approximately 250 million euros.
In June, an Adidas representative told Vedomosti that the company was continuing to wind down its Russian business. Sources reportedthat Adidas is negotiating the purchase of the Russian chain with the Turkish chain FLO Retailing and the Middle Eastern Daher Group. The interlocutor expected that the deal could take place by the fall.