Court declares Go Sport bankrupt
The decision to bankrupt the sporting goods store chain has been made in a Warsaw bankruptcy court.
The role of receiver will be performed by Zimmermann Filipiak Restrukturyzacja. Bartosz Sierakowski, its vice president, says Go Sport’s bankruptcy will be a complicated process. The company’s assets are frozen and located at various points in shopping malls across Poland. It cannot be taken from there without risking a violation of sanctions. This makes it much more difficult to inventory and evaluate it. Therefore, there is no getting around the state control of the bankruptcy process.
Go Sport was sanctioned because the government believed that the company was controlled by Russian capital. Freezing its assets and closing stores resulted in a loss of liquidity. Management had to file for bankruptcy.