We Can Draw A Bold Line Under The History Of The Zubr
- 31.07.2026, 11:22
The company is filing for bankruptcy.
The Minsk Economic Court has opened bankruptcy proceedings against Zubr Avtogrupp LLC. If the company is declared bankrupt, it will put a definitive end to the story of the failed production of the Belarusian Zubr car. The court’s decision has been published on the EGRSB website, according to Office Life.
We’ve already reported on what happened to the Zubr project. In short, in 2025, reports emerged that cars under this brand would be assembled at the Unison plant. The plan was for models from the Chinese brand Forthing to serve as prototypes for these cars. However, the Ministry of Industry and Trade soon denied this information.
Several companies were established for the project, one of which—Zubr Biznesinvest LLC—also recently filed for bankruptcy. The car dealership where the vehicles were to be sold was auctioned off to pay off part of the debts.
The company that was the main player in this project has now filed for bankruptcy in court. In fact, it has not been operating for at least half a year. In February, “Zubr Avtogrupp” attempted to enter liquidation, but the court issued an injunction preventing its removal from the Unified State Register.
The main problem is the company’s significant debt to creditors, including the government. As stated in court, its debt is currently estimated at more than 14 million rubles, nearly 1.1 million dollars, and about 74,500 euros. Total: over $6 million.
As for assets, the case mentions a figure of 11.3 million rubles. However, the lion’s share of this amount (9.6 million) consists of accounts receivable. Presumably, this is for the 30 customer vehicles “stranded” abroad, as previously reported by the company.
Interestingly, according to data from the market analysis platform ICO castle.by, “Zubr Avtogrupp” still has three defaulted but still active token offerings. Two are denominated in dollars (approximately $0.5 million) and one in euros (about 100,000). The issuances are valid until 2028, and it is not yet clear whether they are included in the debt amount cited in court or not.
Given the lack of liquid assets, it is highly likely that the court will rule to declare the company bankrupt on November 16—the date scheduled for the hearing.