Urban Group losses approach 50 billion

It appears that Urban Group's collapse is imminent. As of today, the hole in the company's balance sheet is approaching 50 billion rubles. And this is only by the most conservative estimates. In reality, the figures could be much higher.

Practically all major and mid-sized banks have refused to work with the developer. The company has already missed all deadlines for the construction of residential buildings. As a result, no fewer than 20,000 homebuyers may be left defrauded.

To somehow save the situation, competitors will complete the housing projects. Funds for this are being allocated from the budget of the Moscow Region.

What will happen to Urban Group? Presumably, the developer will be declared bankrupt or sold for a symbolic sum.

The problem has another side. The company that completes the problematic projects will receive state preferences, and at the same time launder money.