Kyiv court initiates bankruptcy proceedings for Khortytsia producer over 1 billion hryvnia debt

The Kyiv Commercial Court has issued a ruling to open bankruptcy proceedings against Global Spirits Group. The company is one of the largest players in the Ukrainian alcohol production market and has accumulated significant liabilities to creditors.

Court ruling details

The relevant ruling was issued on 15 September 2026. The process was initiated by Opt-Systems LLC. It is worth noting that until March 2025, this entity operated under the name Ukrainian Trading Distribution Company LLC (UTDK) and served as the distributor for the Khortytsia brand.

Origin of the debt

The obligations arose under a contract for the provision of reciprocal financial assistance, signed by the parties in 2023. Under the terms of the agreement, the manufacturer received 2 billion hryvnia with an obligation to repay the funds by May 2024. However, Global Spirits Group settled only part of the amount, leaving a significant portion of the debt unpaid.

According to data contained in the court materials, as of 2026, the size of the company's unpaid obligations reaches approximately 1 billion hryvnia.

Impact of hostilities on the enterprise

The company's financial problems were significantly exacerbated by Russian attacks on infrastructure. In the summer of 2026, as a result of shelling, Global Spirits Group's main warehouse was destroyed, and shortly thereafter, its production facilities in Zaporizhzhia were also damaged. Court authorities have noted that the destroyed factory cannot be restored.

Next steps

Now, within the framework of the opened bankruptcy case, the court must assess the financial condition of the enterprise and determine the mechanism for settling its debt obligations.