A Russian court has declared Alexei Melnikov, CEO and co-owner of technology holding company Fplus, bankrupt, adding to mounting financial troubles at one of the country's largest electronics and IT groups.
The Arbitration Court of St. Petersburg ruled on Melnikov's personal bankruptcy after Bank Saint Petersburg filed a claim in late 2025. The court included a creditor claim of 2 billion rubles ($27 million) in the bankruptcy register, according to technology news outlet CNews.
The debt stems from Melnikov's role as a guarantor on a loan agreement between the bank and a company within the Fplus group.
The ruling highlights the growing financial strain facing parts of Russia's technology sector, where companies that expanded aggressively following the exit of Western competitors have been hit by weakening consumer demand, tighter corporate spending and sharply higher borrowing costs.
Fplus is one of Russia's largest technology groups, spanning electronics distribution, hardware manufacturing and retail. The company produces servers, smartphones, tablets and printers under its Fplus brand and operates the VseSmart retail chain.
