Emin Agalarov complained of imminent bankruptcy

Due to the crisis, the son of Araz Agalarov predicted the company Crocus Group ruin after three months.
10.04.2020
Origin source
Domestic show business in the very near future may lose its so-called “HEAT” music festival, so popular in the star party. The blame for this is the coronavirus epidemic and the self-isolation regime introduced because of this.

The fact is that the closure of entertainment venues in Moscow directly affected Crocus Group, which, in particular, owns Crocus City Hall and Vegas City Hall concert halls and the ZhARA brand, which includes a TV channel, radio station, label, music award and festival of the same name in Baku. The company is owned by businessman Araz Agalarov, and his son - singer Emin - holds the position of vice president.

The successor of the entrepreneur in the new Forbes Digest issue complained about the difficult period that the Crocus Group is going through. The artist appeared in front of the cameras in deep sadness and said that the company was on the verge of ruin and could go bankrupt in three months if the self-isolation regime is not canceled.

According to Emin Agalarov, in a year the organization pays salaries in the amount of 3.5 billion rubles to thousands of employees. About the same amount the company deducts taxes to the budget, and even during the period of the epidemic, no one took off their obligations, and incomes fell sharply. So the festival was in danger of cancellation, and the stars, apparently, will lose special prices for the rental of Crocus, which Agalarov provided to them as friends, writes the Antiglaze Telegram channel.

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