Sanctions have crippled Go Sport
The Polish government announced Tuesday a list of Russian oligarchs and their affiliated companies that will be subject to sanctions. Among them was the Go Sport Poland chain.
The restrictions have hit the company hard. Since Wednesday its stores have been closed, online sales are not working and suppliers are leaving. All because after the government’s decision the company’s financial assets were frozen. The company is also not allowed to share any financial assets or economic resources directly or indirectly. As a result, Go Sport cannot pay its obligations. If it violates the sanctions, it may pay a 20 million zloty fine.
According to unofficial information, more than 90 percent of suppliers and service providers have already suspended cooperation with the company.
The company has been sanctioned because it belongs to the Singaporean company Sportmaster Operations. It is controlled by three Russians. In Poland, Go Sport has 26 stationary stores and an online store.