A court has declared one of Ukraine's former ice cream market leaders bankrupt
A court has declared bankruptcy for an ice cream manufacturer that produced products under the “Hercules,” “Dobrynya,” and “Dykanka” brands. The total amount of creditors’ claims against the company exceeds 1.2 billion hryvnia.
The Commercial Court of Donetsk Oblast declared PJSC “Hercules”—a former major manufacturer of ice cream, dairy products, and frozen semi-finished goods—bankrupt. Creditors’ claims against the company exceed 1.2 billion hryvnias.
Before the start of the Russian-Ukrainian war, “Hercules” was one of the leaders in the Ukrainian market for ice cream and frozen foods. The company produced ice cream and semi-finished products under the “Hercules” brand, dairy products under the “Dobrynya” brand, and fermented milk products under the “Dykanka” brand.
After the occupation of part of the Donetsk region, the company’s production facilities remained in territory not controlled by Ukraine. The plant continued to operate under Russian law, but the legal entity registered in Ukraine was unable to settle its debts.
Bankruptcy proceedings against PJSC “Hercules” were initiated back in 2019. As of September 2025, creditors’ claims totaling 1.2 billion hryvnia had been entered into the registry. The company’s largest creditors are Lavios LLC, Raiffeisen Bank, and Galamet LLC.
In addition, in May 2026, the Supreme Court upheld the claims of the liquidated bank “Petrokommerz-Ukraine” against “Hercules” for nearly 194 million UAH.
The proceedings in the case lasted more than six years. During this time, the court received no proposals for the company’s reorganization—that is, the restoration of its solvency. The company also failed to repay its debts to creditors.
The court concluded that Hercules’ continued participation in the asset disposal proceedings would only prolong the case and violate the rights of creditors. Therefore, the company was declared bankrupt and transferred to liquidation proceedings.
It is currently impossible to conduct a full inventory and assess the company’s assets, as its main assets are located in the temporarily occupied territory. During liquidation, the arbitration manager must determine whether the Ukrainian legal entity has any remaining assets, including debts owed to “Hercules” by other companies or property rights. These assets may be used to partially satisfy creditors’ claims.
According to YouControl, PJSC “Hercules” was registered in 1997 in Kramatorsk. The company’s primary activity is ice cream production. Its authorized capital is 1.2 million UAH. The owner and director of the company is Serhiy Zhivoglyadov, who is registered in Lviv.
Source: Register of Court Decisions
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