A Moscow court has declared Kvant, Russia's sole domestic television manufacturer, bankrupt following a petition from retailer DNS.
Key facts
- •Kvant was the only Russian TV maker registered with the Ministry of Industry and Trade.
- •The bankruptcy was triggered by an unpaid debt of over 654 million rubles to retailer DNS.
- •Total debt claims against the company have reached 4.15 billion rubles.
- •Chinese suppliers TCL and Xiaomi halted component shipments in 2024 to avoid secondary sanctions.
- •The company reported a net loss of 387 million rubles and significant unpaid worker wages.
A Moscow court has declared Kvant, the only Russian television manufacturer registered with the Ministry of Industry and Trade, bankrupt. The bankruptcy proceedings were initiated by the consumer electronics retailer DNS over an unpaid debt exceeding 654 million rubles.
By the numbers
Financial Collapse and Creditors
Following the initial petition from DNS, 24 additional creditors joined the bankruptcy case, bringing Kvant's total debt to 4.15 billion rubles. Major creditors include Sberbank and Yandex. The company's financial decline was marked by a sharp drop in revenue, falling from 13.1 billion rubles in 2023 to 4.9 billion rubles in 2024, and eventually collapsing to 45 million rubles last year. Kvant reported a net loss of 387 million rubles and owes tens of millions of rubles in unpaid wages.
Supply Chain and Operational Challenges
Founded in 2016 in Zelenograd, Kvant's business model faced significant disruption in 2024 when Chinese suppliers TCL and Xiaomi stopped shipping components to the plant to avoid secondary sanctions. The company had previously produced electronics for the brand Irbis, but ceased production due to low demand and high costs.
Timeline
- 2016Kvant was founded in the Moscow suburb of Zelenograd.
- June 2023Retailer DNS filed a bankruptcy petition against Kvant.
- 2024Chinese suppliers TCL and Xiaomi halted component shipments to Kvant.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by The Moscow Times.
