Technosila, Russia’s third largest electronic goods and white goods chain store, placed an application regarding the insolvency of OOO SV Group with the court.

According to Kommersant, SV Group is the flagship enterprise of both Technosila and a number of other businesses owned by brothers Vyacheslav and Viktor Zaitsev.

OOO Technosila is undergoing bankruptcy proceedings at the same time. The company’s debts total to 8.8 billion RUR, with its asset value reaching about 7.9 billion RUR.

In fact, Technosila currently operates three hypermarkets in Yekaterinburg, namely, in Greenwich, Fan Fan, and Park House Shopping Centers.