The company «Zubr Avtagrup», which planned to produce Belarusian cars under the Zubr brand, found itself on the brink of bankruptcy. The Economic Court of Minsk initiated bankruptcy proceedings against LLC «Zubr Avtagrup», writes Office Life.
If the company is declared bankrupt, this could put an end to the project of creating Zubr cars in Belarus.
The Zubr project became known in 2025. Then information emerged that cars under this brand were planned to be assembled at the "Unison" factory, and models of the Chinese brand Forthing were to be taken as a basis. However, later the Ministry of Industry of Belarus refuted this information.
Several companies were created for the implementation of the project. One of them — «Zubr Businessinvest» — also recently began bankruptcy proceedings. The car dealership, where cars were supposed to be sold, has already been sold at auction to at least partially pay off debts.
Now «Zubr Avtagrup» — the main company of the project — has applied to the court for bankruptcy. In fact, it has not been active for at least six months. In February, the company tried to liquidate, but the court prohibited its exclusion from the state register.
The main problem is a large debt to creditors, including the state. According to data announced in court, the company owes more than 14 million rubles, almost 1.1 million dollars, and about 74.5 thousand euros. In total, this amounts to more than 6 million dollars.
The company's assets are estimated at approximately 11.3 million rubles. However, almost this entire amount — 9.6 million rubles — consists of accounts receivable. Presumably, this refers, in particular, to 30 customer cars that, according to earlier company reports, are "stuck" abroad.
In addition, according to information from the analytical resource ICO castle.by, «Zubr Avtagrup» still has three token issues for which default has occurred, but formally they are still active. Two issues are denominated in dollars — approximately 500 thousand dollars, and another one in euros — approximately 100 thousand euros. Their validity period ends in 2028. It is not yet clear whether these obligations are included in the total debt amount announced in court.
Given the significant amount of debt and the lack of liquid assets, the likelihood of the company being declared bankrupt appears high. The substantive hearing of the case is scheduled for November 16.
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