High-profile showrunner company faces financial collapse in Belarus
In the heart of Belarus, the once-celebrated eatery, Doner King, has faced its downfall. According to Office Life, the Minsk network recently filed for bankruptcy, following a hefty tax claim.
The closure of Doner King's outlets began as early as 2024, with the transfer of its businesses to other firms. By June, the company officially joined the ranks of bankrupt businesses.
Originating on Pritytskogo Street in Minsk, Doner King initially offered more than just shawarma. Shawarma, shashlik, and burgers all graced the menu. By 2017, the network boasted seven outlets, and by 2023, it expanded to a Network of 18.
The Autsorsing Corporation, founded in February 2011 by two Belarusians, oversaw the operations. Over time, the business was managed by Armenian and Turkish citizens, with notable investors including the owners of a private meat processing plant, "Grigoryi and Sons." Yet, by the start of 2024, the network ceased operations, eventually leading to the liquidation of Autsorsing Corporation.
The Economic Court of Minsk initiated bankruptcy proceedings against the company, revealing a substantial debt of over Br1.47 million, accompanied by penalties. Unfortunately, the company has no assets or funds in its accounts to settle this debt.
It's worth noting that Doner King isn't related to well-known international brands like Burger King, which maintains an active presence in various global regions, such as Eastern Europe and BRIC nations[1]. To grasp the specifics behind Doner King's collapse, it's advisable to seek local business news sources or official announcements from Belarus.
Bankruptcy can be triggered by an assortment of factors, like financial mismanagement, stiff competition, economic downturns, or regulatory challenges. Detailed insights into Doner King's unique situation are lacking, making a comprehensive analysis challenging.
The liquidation of Autsorsing Corporation, previously overseeing Doner King's operations, marks the entry of the struggling business into the ranks of bankrupt finance entities. Following the closure of all Doner King outlets and the initiation of bankruptcy proceedings by the Economic Court of Minsk, the former eatery has become one of many businesses in Belarus facing financial difficulties.
