M.Video Resumes Registration of New Pickup Points Under Its Own Brand

The expansion of the pickup point network is part of a larger strategy. As Vedomosti wrote on September 6, in August the M.Video group signed an agreement with one of its key creditors to open a credit line of 17.5 billion rubles with repayment due in September 2033. The company said the raised funds would go toward developing key business areas, including the creation of a multi-category marketplace with its own retail, partner pickup points and parcel lockers.

The market is skeptical about the company's financial capabilities. Ivan Efanov, an analyst at Tsifra Broker, noted that the new line could be used primarily to refinance existing obligations and cover cash shortages.

According to him, the retailer's debt burden remains critical. The company is already loss-making at the operational level — it does not even earn enough to simply keep its stores running. Interest expenses on old debts are also not covered. Therefore, M.Video is forced to take out new loans to pay interest on old ones, the analyst added.