The Ranok publishing house will need at least three years to recover after Russia destroyed millions of its books. The company has capped salaries, negotiated discounts with landlords, and is diversifying its logistics operations.
Source: Ranok CEO Viktor Kruhlov
Quote: "We agreed with the team to temporarily cap their salaries and wrote to our landlords asking for discounts on warehouse rent. Almost all of them have agreed. We drew up a reduced budget, then cut it again and then again to balance our spending."
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We are negotiating with banks over loans. So far without success. Banks are not interested in future books and intellectual property rights as collateral. This is a huge problem that needs to be raised at government level."
