Retentiva Distribution Company, commonly known as RDC is the reseller of Xiaomi products in Russia. According to the latest report, this company has a debt of $9.5 million (700 million rubles) to the Otkritie Bank and is currently on the verge of going bankrupt.

RDC is not only the official Russian distributor of Xiaomi products but is also responsible for Yi cameras, Jinga smartphones, Fossil wearables, and Skagen wristwatches. If it goes bankrupt, the above-mentioned companies have to find other resellers for their products in Russia.

The court already saved the company from a bankruptcy petition filed by another company called GPB Factoring for an amount of 714 million rubles. Because GPB mishandled the case for its own benefit of seizing properties of RDC before the deadline of April 21.

Also, in November 2019, RDC had to pay 201.7 million rubles of an outstanding principal amount under a loan agreement in addition to penalties to a company named Mobilidi.

The current hearing of Otkritie Bank against the Retentiva Distribution Company (RDC) is set for May 15.

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(Via)

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