Trassa shuts all 53 of its Moscow-region gas stations
Gazprombank Leasing is repossessing all 57 stations leased to EuroTrans, while about 1,400 employees have been placed on forced downtime, the regional Energy Ministry said.
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Gazprombank Leasing is repossessing all 57 stations leased to EuroTrans, while about 1,400 employees have been placed on forced downtime, the regional Energy Ministry said.
All 53 Trassa gas stations in the Moscow region have stopped operating, the region’s Energy Ministry told Interfax on 8 November. The shutdown follows months of financial trouble at EuroTrans, the network’s operator, and has left customers unable to use its stations.
Gazprombank Leasing, which owns the station properties and leased them to EuroTrans, is repossessing all 57 stations, including four in other Russian regions, the ministry said. It said 40 stations in the Moscow region had been sealed and employees could no longer enter them. In its November 8 account, the ministry expected the remaining 17 to be repossessed by the end of that week.
About 1,400 EuroTrans employees have been placed on forced downtime, the ministry said, citing the network’s owner. They continue to accrue two-thirds of their salaries, but are not receiving the money because the company’s accounts are frozen.
Interfax said Trassa’s hotline could not connect, its website was offline, and customers could neither access their accounts in the mobile app nor add money to fuel cards. The network ranked second by sales volume among independent gas station operators in Moscow and the surrounding region.
By early September, EuroTrans had effectively defaulted on all its publicly traded debt, comprising ten exchange-traded and green bond issues, Interfax said. That month, news emerged that the company’s majority shareholders had been detained and arrested in a case concerning the alleged theft of fuel belonging to Moscow-region police. A court froze their combined 61% stake in EuroTrans.
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The regional ministry said it was awaiting a Russian government decision on proposals prepared with the regional government’s participation. A court is scheduled to consider Sberbank’s petition to declare EuroTrans bankrupt on 12 November; the lender filed it in mid-October.
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