Court Declares Hercules LLC Bankrupt with Debts Exceeding 1.2 Billion UAH

The Economic Court of Donetsk Oblast has declared Hercules LLC, one of the former leaders of the Ukrainian ice cream market, bankrupt. The total amount of creditor claims exceeds 1.2 billion UAH, and the company is entering liquidation proceedings after six years of litigation. Hercules was a major producer of ice cream and frozen products, but after the occupation of part of Donetsk Oblast, its production facilities remained in the temporarily occupied territory. Despite the factory operating under Russian law, the Ukrainian legal entity was unable to meet its obligations to creditors. The legal proceedings began in 2019, but during this time, no proposals for financial recovery were received, and debts were not repaid. The court decided that the further stay of the company in property management proceedings has no prospects and opened liquidation proceedings. A complete inventory of the property is impossible due to its location in the occupied territory. The main activity of Hercules LLC is ice cream production, and it was registered in 1997 in Kramatorsk.

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