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Russian Sea branded sale cut debt by $39m

Sale of branded business to Santa Bremor reduced Russian Sea’s debt by more than a fifth, while cutting staff costs by 60%, says new CEO

By Undercurrent News | July 5, 2013 16:08 BST
Russian Sea branded sale cut debt by $39m
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Russian Sea Group’s sale of its lossmaking branded business, Russian Sea Company, helped reduce its debt by more than RUB 1.3 billion ($39million), said the group’s new CEO. [...]

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