The only TV manufacturer in Russia has gone bankrupt due to debt
The Moscow Arbitration Court declared “Kvant”—Russia’s sole television manufacturer listed in the Russian Ministry of Industry and Trade’s registry—bankrupt.
The bankruptcy was caused by debts amounting to several billion rubles. The total amount of creditors’ claims exceeded 4.15 billion rubles (about $53 million). The legal proceedings were initiated by the retailer DNS, to which the company owed more than 600 million rubles (approximately $7.6 million).
Founded in 2016, “Kvant” manufactured televisions under the Irbis brand at plants in Zelenograd and Voronezh. However, production ceased last year due to low demand.
According to the publication, even government support failed to help the company stay afloat in the market. Despite the Russian government’s requirement to purchase domestically produced electronics, government orders did not compensate for the lack of demand, and most buyers opted for cheaper Chinese televisions.
Source: “Kommersant.”
In May 2026, Ukraine’s real GDP grew by 0.9% year-over-year, continuing the recovery trend. This positive trend has been recorded for the third consecutive month following a decline at the beginning of the year.
In the first half of 2026, expenditures from the general fund of Ukraine’s state budget totaled 2.23 trillion UAH, which is 354.1 billion UAH (or nearly 19%) more than in the same period last year.
