The company completing the reconstruction of the Philharmonic in Tambov found itself on the verge of bankruptcy

This is not the first contractor of the Tambov Philharmonic to find itself in debt.

On April 12, the Arbitration Court of the Moscow Region introduced a monitoring procedure against TsHD Engineering LLC, which is performing the final stage of reconstruction of the Tambov Philharmonic. A temporary bankruptcy trustee has been appointed. The court will sum up the results of the first stage of the bankruptcy procedure on September 11, 2024, after hearing the manager’s report.

Alliance-Energy LLC filed a lawsuit against the reconstructor of the Tambov Philharmonic in 2022. The applicant demanded money from TsHD Engineering under the lease agreement for diesel generator sets in the amount of 4.9 million rubles, including penalties and legal costs. For what reason TsHD Engineering did not pay for the services under the contract is unknown. It is unlikely that such an amount for a company whose profit amounted (for 2022 according to the counterparty verification website) to 151.9 million rubles is impressive.

It is interesting that in 2022, several insolvency claims were filed against the company, including dozens of messages about the intentions of other companies to file bankruptcy claims against a contractor located near Moscow. At the same time, TsHD Engineering won the bidding and signed a contract worth 372.5 million rubles for the reconstruction of the Philharmonic in May 2023. The company has already missed the deadline for completing the work: the reconstruction was supposed to be completed in 2023, but the contract was extended by an additional agreement until June 21, 2024, since the contractor did not have time to complete the repairs.

Let us remind you that the first contractor, Stik LLC, won the auction in 2012 and after some time went bankrupt. The region borrowed money for the reconstruction from a “green” bank, and when the opportunity arose, it almost paid off the debts with the mortgaged property—the Philharmonic building itself.

In turn, for the Philharmonic, the unsuccessful start of reconstruction seemed to be a curse: subsequently the project was frozen, contractors refused to fulfill contracts, and the cost of repairs increased exponentially. The real state of affairs changed two years ago, when the reconstruction really began to approach completion, but various difficulties began to arise again and again. For example, in mid-April, the antimonopoly service issued an order to cancel the results of the auction for the supply of equipment and renovation of the Philharmonic concert halls. This decision was prompted by a complaint filed by one of the bidders.

It is the contract for the arrangement of halls and the supply of equipment that should be the last for the Philharmonic to enter a new era, but only after the completion of the “rough” work, which, we hope, despite the bankruptcy lawsuit, will end successfully.

Yulia Radchenko

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