American software developer Cisco Systems liquidates one of the legal entities in Russia

The American developer of software and network equipment Cisco Systems, who had previously left Russia, announced the liquidation of one of the two legal entities in the country, Cisco Systems LLC. This was stated in a post on Federal resource.

The decision was made at an extraordinary meeting of participants of Cisco Systems LLC (minutes dated June 19, 2023). Elena Dunkova was appointed liquidator. Creditors may submit claims within two months after the publication of the notice of liquidation in the State Registration Bulletin.

Cisco Systems announced the suspension of sales in Russia in March last year. In June, the company announced its withdrawal from the Russian and Belarusian markets. In April 2023, Cisco Systems stated, which “physically destroyed” inventories worth 1.86 billion rubles. due to the termination of sales of products in Russia.

Cisco Systems has two subsidiaries registered in Russia – Cisco Systems LLC and Cisco Solutions LLC. At the end of 2022, the net loss of Cisco Systems LLC amounted to 1.8 billion rubles. against a loss of 102.4 million rubles. in 2021, revenue fell by 76% to RUB 441.2 million. against 1.85 billion rubles. a year earlier. The net loss of Cisco Solutions LLC in 2022 reached 3.67 billion rubles. against a profit of 1.16 billion rubles. in 2021, revenue fell by 84%, to 5.15 billion rubles.

More details – in the material “Kommersant FM” “Game of Destruction”.

Olesya Pavlenko