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The Moscow arbitration court has initiated liquidation proceedings for Russian electronics retailer Mir, Rapsi reports. The company was declared bankrupt in April 2010, with a RUB4.6 billion (USD150.8 million) debt owed to 60 creditors. As of late 2009, Mir operated 62 stores in Russia, 16 of which in Moscow were sold in March 2010 to cover company debts. The main shareholders of the company are Alexander and Evgeny Kabanov. Planet Retail N

One of the biggest Russian retail chain Mosmart go bankrupt. Company has stopped entering into agreements with suppliers and is winding down its business. The Mosmart managed to restructure 70% debts but doesn’t has money for others.  Company is going to file for bankruptcy on February 8th. Currently, the company is undergoing management changes.  www.retail.ru Y

... medium sized retailer is unofficially bankrupt. Mosmart recently closed some of ...

US-based electronics retailer Best Buy has said that it could take advantage of bankruptcies in the sector by snapping up vacant store locations, but remains cautious as consumer spending continues to slide. "We are looking at some of those (stores), but our first priority is to stay cash strong," Chief Executive Brad Anderson told Reuters. "We would be more cautious than we would (be) in most environments and take advantage of less of that than we would have a year or two ago,& ...