Intermarket creditors agree to write off 25% of its debt

Intermarket’s suppliers have agreed to write off 25% of debt owed to them by Intermarket, Vladimir Zabolotovskiy, deputy chairman of the association of suppliers and producers, told Kommersant in an interview today. The General Director of Evrotek, which acquired Intermarket in March 2009, Mikhail Veselskiy said that the separate agreements would be reached with each supplier to repay the remainder of the debt over 3-4 or 10-12 months. Daily Kommersant put the figure to be paid out at UAH 80 mln. In 2008, Intermarket posted net sales of UAH 948.9 mln, gross profit of UAH 133.6 mln and a net loss of UAH 167.2 mln.