H&M left, owing shopping centers at least a billion rubles

Shopping center owners are filing lawsuits en masse.

Member of the Presidium of the Russian Council of Shopping Centers (RSTC) Dmitry Moskalenko informed Izvestia that the Swedish company H&M, which on November 30 closed all Russian stores after the final sale, refused to pay bills for renting premises in the shopping center. In total, according to the expert, the Swedes owe landlords at least a billion rubles.

The owners of shopping centers hope to get the due rent through the courts. At the moment, 15 lawsuits have been registered against H&M, and according to one of them, the court has already arrested 215 million rubles on the company’s account.

However, Moskalenko admits that even a victory in court does not guarantee that the Swedish company will pay the money. Shamil Sultanov, a member of the Russian Bar Association, expressed the same concern: “If we talk about the prospects of winning lawsuits themselves, then there is an almost 100% guarantee of success. But the decision of the court in itself is not a guarantee that the injured party will receive compensation.”

Experts believe that the Russian legal entity H&M may at any time begin bankruptcy proceedings, in which case it will become impossible to collect debts from them.



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