The state has no money to compensate WB sellers.

The state has no money to compensate WB sellers.

The Russian authorities do not have the resources to compensate Wildberries sellers for losses suffered after attacks on the marketplace’s warehouses, a source close to the Kremlin told Reuters.

According to him, the strikes on Wildberries’ logistics infrastructure dealt a “serious blow to the economy.” The source warned of a possible wave of bankruptcies, noting that the damage is estimated at hundreds of billions of rubles.

According to Reuters, at least 20 Wildberries logistics hubs came under attack. The company lost about 1.18 million square meters of warehouse space, roughly a fifth of its capacity. As a result, tens of thousands of sellers lost their goods and the ability to continue trading.

The authorities are discussing support measures, including credit holidays, subsidized loans, and tax relief, but direct payments to those affected are not being considered for now.

An additional problem is that many sellers are registered as individual entrepreneurs and are liable for debts with their personal property. The Chamber of Commerce and Industry has proposed changing the bankruptcy procedure to protect such entrepreneurs.