White Wind Digital, a popular electric goods retail chain, has filed for bankruptcy after being unable to manage debts of more than 7 billion rubles ($191 million), according to Russian media reports Thursday.
The electronics retailer initiated the bankruptcy proceedings in the Volga River city of Ulyanovsk, where the company was recently re-registered, Kommersant newspaper reported, citing a copy of the bankruptcy application.
Set up in 1991, White Wind Digital sells computers, mobile phones and other electronic appliances from about 149 outlets across Russia, according to the company's website. First based in Moscow, the retailer has been expanding into other Russian cities since 2005.
In the months before the bankruptcy filing, the company was under pressure to honor its debts to suppliers, including Japanese corporation Sony and Russia-based distributors of Apple equipment, the report said.