According to CEO Charles Caldwell, Stoli Group's subsidiaries are facing over $84 million in debts, exacerbated by an August ransomware attack that severely impacted operations.
Caldwell noted that the ransomware incident caused substantial operational issues, disabling Stoli Group's ERP system and forcing many internal processes into a manual entry mode.
The legal battle with Putin's government has cost Stoli Group 'dozens of millions' over 23 years, further straining their financial condition amidst current economic challenges.
Caldwell revealed the affected systems from the ransomware attack are still not fully restored, with expectations to be back online by Q1 2025.
Collection
[
|
...
]